What is Germany's opportunity cost of 2 cameras?
1 art book
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"Natural" real GDP is defined as the total output
A) at business cycle peaks. B) at business cycle troughs. C) that causes an inflation rate of zero. D) that causes the inflation rate to remain constant. E) produced when all of our resources are being used to their maximum capacity.
Which of the following would not be used by firms to deter shirking?
A) requiring employees to post a bond B) offering a bonus after five years of service C) paying more than the market wage D) paying less than the market wage
When Andrew earns no income, his base consumption is $500 . When he earns $3,000 per week, he consumes $2,100 per week and saves the rest. If his weekly income increases by $1,000 . then his total consumption is expected to increase to _____
a. $5,800 b. $3,300 c. $6,900 d. $1,500
"The global financial crisis has had a considerable impact on China's export growth, which will continue to show weakness with recession in the US and Europe," said a report by JP Morgan & Co. If Chinese exports continue to decline, the AE curve will shift __________, the price level will __________ in the short run and real GDP will __________ in the short run.
a) upward; decrease; decrease b) downward; decrease; decrease c) upward; decrease; not change d) downward; decrease; not change