Which of the following is a measure of economic growth that is most useful for comparing living standards?
A. Growth in nominal GDP
B. Decreases in the rate of unemployment
C. Increases in real GDP per capita
D. Increases in real GDP
C. Increases in real GDP per capita
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Refer to Table 4-3. The table above lists the marginal cost of cowboy hats by The Waco Kid, a firm that specializes in producing western wear. If the market price of The Waco Kid's cowboy hats is $40
A) The Waco Kid will produce four hats. B) producer surplus from the first hat is $40. C) there will be a surplus; as a result, the price will fall to $24. D) producer surplus will equal $28.
The presumption that ability breeds economic success finds empirical support
Indicate whether the statement is true or false
An MP3 player in Singapore costs 200 Singaporean dollars. In the U.S. it costs 100 US dollars. What is the nominal exchange rate if purchasing-power parity holds?
a. 2.0 b. 1.0 c. .50 d. None of the above is correct.
An open market ________ by the Fed decreases the money supply, which leads to ________ interest rates and a fall in investment spending.
A. sale; increased B. sale; decreased C. purchase; increased D. purchase; decreased