An economic variable that doesn't move in a consistent pattern with aggregate economic activity is called
A. procyclical.
B. countercyclical.
C. acyclical.
D. a leading variable.
Answer: C
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The preceding table gives monthly production information for Peter's Peanuts, a firm in a perfectly competitive industry. The market price of peanuts is $2.00 per pound. What is the value of marginal product from employing the third worker?
A) $800 B) $1,200 C) $2,000 D) $4,800
All the following would be a possible loan that the International Monetary Fund might make EXCEPT
A. long-term loans to countries which are having problems in repaying existing debts. B. long-term loans to a nation's government which support growth promoting projects. C. a loan to a private firm. D. short-term loans to a nation's government.
Across national economies which of the following is the most important source of variation in growth rates?
A) labor growth B) capital growth C) productivity growth D) government regulation
Evaluate this sentence, "The best way to get rid of poverty is to increase government expenditures on welfare programs."
a. This sentence is inherently true. By providing the poor with more money they will no longer remain in poverty. b. This sentence is true. Everyone would be better off if we increased government transfer programs. c. This sentence is false. Increasing transfer benefits like welfare will lower the opportunity cost of making decisions that can lead to poverty d. This sentence is false. Increasing government expenditures will only be harmful to those in poverty.