The percentage change in one's real income can be approximated by:
A. The percentage change in price level divided by the percentage change in nominal income
B. The percentage change in nominal income divided by the percentage change in price level
C. The percentage change in price level minus the percentage change in nominal income
D. The percentage change in nominal income minus the percentage change in the price level
D. The percentage change in nominal income minus the percentage change in the price level
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Use the figure below to answer the following question.
If a price ceiling in this market is set at P1, then consumer surplus equals area
A. a + b + d. B. b. C. a. D. a + b.
Systemically important financial institutions are:
A) banks that are owned and run by the government. B) large banks that have become a large market power. C) all banks whose value of liabilities exceeds its value of assets. D) all banks whose value of assets exceeds its value of liabilities.
Since 1960, in the United States the labor force participation rate for men has ________ and for women has ________
A) not changed; increased B) increased; increased C) increased; decreased D) decreased; decreased E) decreased; increased
If the domestic prices for traded goods rises 5% in Japan and rises 7% the US over the same period, what would happened to the Yen/US dollar exchange rate? HINT: S1/S0 = (1+?h) / (1+ ?f) where S0 is the direct quote of the yen at time 0, the current period
a. The direct quote of the yen ($/¥) rises, and the value of the dollar falls. b. The direct quote of the yen ($/¥) falls, and the value of the dollar rises. c. The direct quote of the yen would remain the same. d. Purchasing power parity does not apply to inflation rates. e. Both a and d.