If the bank is selling euros for $0.89, then what is the implied euro price of the dollar?
A) 2.00
B) 1.99
C) 2.32
D) 1.12
D
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The Ricardo-Barro effect is based on the idea that ________ when the government has a budget deficit
A) investment demand increases because expected future profits increase B) people decrease their private saving C) investment demand decreases because of the higher real interest rate D) people immediately increase their tax payments E) people increase their private saving
In the economic way of thinking, countries are poor because they lack
A) money. B) access to the New York Stock Exchange. C) foreign aid. D) productive knowledge and ideas. E) effective minimum wage legislation.
If government purchases are $400 million, taxes are $700 million, and transfers are $200 million, which of the following is true?
A) Public saving is $100 million. B) The budget deficit is $100 million. C) The budget deficit is $500 million. D) Public saving is $500 million.
If the marginal productivity of labor is constant for all levels of output, then the average productivity of labor
A) is constant. B) equals the marginal productivity of labor. C) Both A and B above. D) Either A or B above but not both.