In response to an unanticipated tightening of monetary policy, output ________ at first, then ________ after about four months.
A. rises; returns most of the way to its original value
B. falls; returns most of the way to its original value
C. remains roughly unchanged; rises significantly
D. remains roughly unchanged; falls significantly
Answer: D
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As the expected profit from holding dollars ________, the quantity of ________
A) increases; dollars demanded increases B) increases; dollars demanded decreases C) decrease; foreign currency demanded decreases D) None of the above answers is correct.
The concept of choosing the least-cost combination of resources for a given amount of output is known as
a. technical efficiency. b. the principle of diminishing marginal returns. c. economic efficiency. d. decreasing returns to scale.
Parallel markets is another term for:
a. government interventions. b. interbank trades. c. black markets. d. trade in goods and in services
The percentage of U.S. workers in the private sector who belong to unions is currently
A. approximately 55 percent. B. approximately 25 percent. C. approximately 11 percent. D. greater than 70 percent.