The "Big Mac index" was created by The Economist magazine to determine
A. how successful the McDonald's corporation has been around the world.
B. the accuracy of exchange rates.
C. whether or not the dollar was overvalued or undervalued.
D. None of these statements are true.
C. whether or not the dollar was overvalued or undervalued.
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Which of the following expressions equals GDP?
A) compensation of employees + consumption + depreciation + net investment B) compensation of employees + net interest + rental income + depreciation + corporate profits + proprietors' income + indirect taxes - subsidies C) compensation of employees + net exports + depreciation + corporate profits D) compensation of employees + gross investment + rental income + depreciation + corporate profits + indirect taxes - subsidies
The aging of the labor force in the United States is likely to ________ the natural rate of unemployment; an increase in the efficiency of the labor market is likely to ________ the natural rate of unemployment.
A. increase; decrease B. decrease; decrease C. decrease; increase D. increase; increase
Refer to the above figure. Which panel demonstrates the law of demand?
A. Panel A B. Panel B C. Panel C D. Panel D
Which set of items in the list would move an economy from a point inside its production possibilities curve to a point on its production possibilities curve?
Use the list below to answer the following question: 1. Improvements in technology. 2. Increases in the supply (stock) of capital goods. 3. Purchases of expanding output. 4. Obtaining the optimal combination of goods, each at least-cost production. 5. Increases in the quantity and quality of natural resources. 6. Increases in the quantity and quality of human resources. A. 1, 2, 5, and 6 only. B. 3 and 4 only. C. 3 only. D. 1, 3, and 4 only.