Epsilon is a country whose unit of currency is the omega. New information leads people to expect that the omega will appreciate next year
To keep the foreign exchange value of the omega fairly steady, the Bank of Epsilon will ________ enough omegas on the foreign exchange market so that the ________ omegas will ________. A) buy; demand for; increase
B) sell; supply of; increase
C) buy; demand for; decrease
D) buy; supply of; decrease
B
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A discouraged worker is someone who
A) is not in the labor force. B) is employed. C) has been fired. D) is unemployed.
In the above figure, what is the efficient quantity of hot dogs to produce?
A) 2 thousand per day B) 4 thousand per day C) 6 thousand per day D) The efficient quantity cannot be determined without knowing the PPF for this economy.
Real labor income is given by ________
A) MPL × L B) labor share of income × labor productivity × labor C) labor share of income × output D) all of the above E) none of the above
Refer to the accompanying figure. If the price is $4 today and there is no change in either supply or demand, one would expect the price in the future to be:
A. greater than $6. B. less than $4. C. greater than $4. D. $4.