The statement that there is a direct relation between x and y means that
a. x and y move in the same direction
b. x causes y
c. y causes x
d. either y causes x or x causes y
e. the causal connection between x and y is immediate
A
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A nation's annual growth rate of real GDP per person is 2 percent. Its standard of living will
A) double in 35 years. B) not change because its population is growing. C) fall because of its population growth. D) double in 10 years. E) double in 50 years.
Rational expectations theorists believe that governments publicizing their economic goals ______.
a. is necessary to educate the people, so they behave as intended b. leads people to act in their own interests and undercut the government’s intended outcomes c. prevents people from being able to anticipate the future of the economy d. is the most important step in being able to meet the government’s goals
Which of the following would result in a short-run increase in the wage rate in a competitive labor market?
A. an increase in immigration B. a decrease in labor demand C. an increase in the output price D. a decrease in productivity E. an increase in native labor supply
A country has a current account surplus if
A. the value of its net exports of services exceeds the value of its net exports of goods. B. it receives more income from foreign assets than it pays to foreigners for foreign-owned domestic assets. C. its capital inflows exceed its capital outflows. D. the value of its exports exceeds the value of its imports, assuming net income from foreign assets and net unilateral transfers have a value of zero.