Which of the following both shift aggregate demand right?
a. net exports rise for some reason other than a price change and government purchases rise.
b. net exports rise for some reason other than a price change and taxes increase.
c. net exports fall for some reason other than a price change and government purchases fall.
d. net exports fall for some reason other than a price change and taxes fall.
a
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A competitive equilibrium is efficient in the production and exchange of two goods X and Y when
A) MRSXY = MRTLK (where L = labor input and K = capital input). B) MRTXY = MRSLK (where L = labor input and K = capital input). C) MRSXY = MRTXY. D) MCX/MCY = PY/PX.
A sudden increase in the market demand in a competitive industry leads to
a. Losses in the short-run and average profits in the long-run b. Above average profits in the short-run and average profits in the long-run c. New firms being attracted to the industry d. Demand creating supply
The Natural rate of unemployment equals
a. The sum of the frictional and structural unemployment rates. b. The sum of the frictional and cyclical unemployment rates. c. The sum of the structural and cyclical unemployment rates. d. None of the above.
Suppose Chris is offered the following gamble: with probability 0.1 he will win $90, with probability 0.4 he will win $50, and with probability 0.5 he will lose $60. Chris will:
A. accept this gamble if he is either risk neutral or risk-averse. B. accept this gamble if he is risk-averse, but not if he is risk-neutral. C. not accept this gamble if he is risk-neutral. D. accept this gamble if he is risk neutral, but not if he is risk-averse.