Workers earn less than half of the income generated by the production process
a. True
b. False
Indicate whether the statement is true or false
False
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When there is a recessionary gap, inflation will ________, in response to which the Federal Reserve will ________ real interest rates, and output will ________.
A. decline; lower; decline B. increase; raise; decline C. decline; lower; expand D. decline; raise; decline
Assume that the government increases spending and finances the expenditures by borrowing in the domestic capital markets. If the nation has highly mobile international capital markets and a flexible exchange rate system, what happens to the quantity of real loanable funds per time period and the nominal value of the domestic currency in the context of the Three-Sector-Model?
a. There is not enough information to determine what happens to these two macroeconomic variables. b. The GDP Price Index rises, and nominal value of the domestic currency falls. c. The GDP Price Index rises, and nominal value of the domestic currency rises. d. The GDP Price Index falls, and nominal value of the domestic currency rises. e. The GDP Price Index rises, and nominal value of the domestic currency remains the same.
The price elasticity of demand for a textbook is estimated to be 1 no matter what the price or quantity demanded. In this case,
What will be an ideal response?
Tariffs are highest in which sector internationally?
A) Agriculture B) Energy C) Technology D) Automobiles