The current international monetary system is
a. a flexible exchange rate system
b. a fixed exchange rate system
c. a system combining fixed and flexible exchange rates
d. a gold standard
e. a gold exchange rate system
C
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If the multiplier is 4 and autonomous government spending increases by $100 billion, real GDP will:
A. increase by $100 billion. B. increase by $400 billion. C. decrease by $400 billion. D. increase by $25 billion.
From 2015 to 2016, the overall price level rose from 200 to 220. Over the same period, tuition rates at the local community college rose from $100 to $115 per credit hour. What can be concluded from the rise in tuition relative to overall inflation?
a. Tuition rates increased at the same rate as inflation. b. Tuition rates increased at a slower rate than inflation. c. Tuition rates increased at a faster rate than inflation. d. Tuition rates and inflation cannot be compared with the numbers given.
In the short-run, following the opening of trade
A. inputs move across sectors, but input returns remain constant. B. workers in all sectors will receive lower wages due to cheap imports. C. factor payments in the import-competing sectors will decline. D. the supply of resources to the export-oriented sectors will decline.
Refer to the graph below. At output level H, the area:
A. 0CGH represents the firm's total cost of production
B. ACGE represents the firm's economic profit
C. 0AEH represents the firm's economic profit
D. BCGF represents the firm's fixed cost of production