Depreciation of the dollar relative to the yen means that the
A. dollar price of the yen has fallen.
B. yen prices of Japanese goods have increased to the Japanese.
C. dollar prices of imported goods from Japan have increased.
D. yen are less expensive to Americans.
C. dollar prices of imported goods from Japan have increased.
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When the velocity of circulation equals 4 in 2010, this fact means that
A) consumers held four dollars in wealth for each dollar they spent in 2010. B) on average, each dollar of money in the economy purchased four dollars of goods and services in GDP in 2010. C) for each additional dollar of money injected into the economy, the price level rose 4 percent in 2010. D) real output of goods and services in GDP rose by four dollars for each additional dollar of money consumers saved.
One way to prevent workers from shirking is to
A) hire only workers who are predisposed toward shirking. B) hire only workers who are predisposed toward not shirking. C) reduce monitoring to zero. D) pay workers a fixed fee.
An experience good is a product
A) with qualities that consumers lack the expertise to assess without assistance. B) that emphasizes the features of its product. C) with characteristics that enable an individual to evaluate the product's quality in advance of a purchase. D) that an individual must consume before the quality can be established.
In order to accurately capture the multiplier effect, it is important to know:
A. what people's expectations of the future are. B. real GDP. C. what proportion of their additional income people spend. D. individual's wealth.