Alfonse is a farmer who grows 20,000 bushels of corn each year. Last year, the market price was $3 per bushel. If Alfonse earned $80,000 . the government's target price per bushel must have been
a. $60,000
b. $20,000
c. $4,000
d. $4
e. $1
D
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Which of the following statements CORRECTLY describes the policy stance of a macroeconomist?
A) A monetarist believes that the quantity of money should be constantly changed in order to offset changes in aggregate demand. B) A new classical macroeconomist believes that fiscal and monetary policy are required to maintain full employment. C) A Keynesian believes that if taxes are always kept low and the quantity of money is kept on a steady growth path, no policy actions will be needed to maintain full employment. D) A classical macroeconomist believes that maintaining consistently low taxes will allow the economy to expand at an appropriate and rapid pace.
When a person buys a bond of the XYZ Corporation, he or she can expect to
A) pay the corporation a certain amount of money each quarter of the year. B) receive the face value of the bond each year and the face value of the bond when the bond matures. C) receive the coupon rate times the face value of the bond each year and the face value of the bond when the bond matures. D) receive the face value of the bond each year in perpetuity.
Recall the Application about the success of the 2009 stimulus package to answer the following question(s).The Obama stimulus package was implemented to assist the economy in its recovery from recession. This package was designed to shift:
A. aggregate demand to the right. B. aggregate demand to the left. C. aggregate supply to the left. D. aggregate demand and aggregate supply to the left.
The law of one price does not hold closely for most products that are traded internationally, including nearly all manufactured products.
Answer the following statement true (T) or false (F)