An increase in the value of the U.S. dollar relative to the Japanese yen would be ________ for Japanese owners of U.S
houses who wish to sell those houses, and ________ for Japanese manufacturers operating factories in the United States that export their products back to Japan.
A) good news; bad news B) good news; good news
C) bad news; bad news D) bad news; good news
A
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"Privatization of government owned industries is a more desirable way to operate an economy" is a ________ statement about ________ policy.
A. normative; monetary B. positive; structural C. normative; structural D. positive; fiscal
Suppose the overall MPC is 0.9. If a $2 billion increase in imports to the United States will lead to a $10 billion decrease in GDP, the value of the marginal propensity to import must be
A) 0.1. B) 0.2. C) 0.5. D) 0.8.
If there is a monopsony operating in the labor market illustrated in the figure above and the federal government decides to institute a minimum wage of $8 an hour then the wage paid will ________ and the quantity of labor hired will ________
A) increase; decrease B) increase; increase C) decrease; increase D) decrease; decrease
Refer to Figure 4-3. At the price P2, consumers are willing to buy the Q2 pounds of granola. Is this an economically efficient quantity?
A) Yes, because the price P2 shows what consumers are willing to pay for the product. B) No, the marginal benefit of the last unit (Q2 ) exceeds the marginal cost of that last unit. C) Yes, otherwise consumers would not buy Q2 units. D) No, the marginal cost of the last unit (Q2 ) exceeds the marginal benefit of the last unit.