Which of the following determines the exchange rate between two currencies in the long run?
a. Relative interest rates
b. Relative output levels
c. Expectations of future exchange rates
d. Relative price levels
e. Expectations of future interest rates.
D
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The total federal debt is equal to
A) the total value of all U.S. currency in circulation. B) the sum of all past deficits minus the sum of all past surpluses. C) the federal budget deficit minus the federal budget surplus. D) annual federal tax receipts plus annual federal expenditures.
The rate of output at which the price level has no tendency to rise or fall is called the
A) natural rate of output. B) potential level of income. C) bliss point. D) efficient level of output.
Marginal Revenue Product with three units of labor would be
A. $960.
B. $540.
C. $420.
D. $340.
Use the following information to answer the next question.Maya purchases only three products; orange juice, prepared meals, and on-demand episodes of her favorite shows. Each week she purchases 2 bottles of orange juice, 14 prepared meals, and 8 on-demand episodes. The prices of bottles of orange juice, prepared meals, and on-demand episodes for four different years are shown in the table below.YearPrice of Orange JuicePrice of Prepared MealsPrice of On-Demand Episodes1$2$6$102$6$5$123$4$7$134$4$8$11How much will Maya spend per week in Year 4?
A. $178 B. $168 C. $210 D. $208