A government spending and taxation policy to achieve macroeconomic goals is known as:
a. countercyclical policy.
b. fiscal policy.
c. monetary policy.
d. a balanced budget.
e. presidential discretion.
b
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The AA schedule shows
A) Interest rate and output pairs at which the foreign exchange market and the domestic money market are in equilibrium. B) Exchange rate and output pairs at which the foreign exchange market and the domestic money market are in equilibrium. C) Interest rate and output pairs at which only the foreign exchange market is in equilibrium. D) Exchange rate and output pairs at which only the foreign exchange market is in equilibrium. E) Exchange rate and output pairs at which only the domestic money market are in equilibrium.
If a firm's average variable cost curve is rising, its marginal cost must exceed its average variable cost
a. True b. False Indicate whether the statement is true or false
Last year the imaginary country of Basova had a population of 10,000, 6,000 people worked 8 hours a day, and produced a real GDP of $30,000,000 . The imaginary country of Andovia had a population of 12,000, 8,000 people worked 8 hours a day, and produced a real GDP of $38,000,000 . Which of the following is correct?
a. Basova had higher productivity and higher real GDP per person. b. Andovia had the higher productivity and higher real GDP per person. c. Basova had the higher productivity while Andovia had the higher real GDP per person. d. Andovia had the higher productivity while Basova had the higher real GDP per person.
According to economists, which of the following statements about international capital mobility is CORRECT?
a. International resource mobility has had no effect upon world GDP. b. International resource mobility has had a negative effect upon world GDP. c. International resource mobility has had a positive effect upon world GDP. d. International resource mobility has had such a small effect upon world GDP that it is not worth measuring.