Regardless of whether you are looking through the microeconomics microscope or the macroeconomics telescope, the fundamental subject material of the interconnected __________ doesn’t change.
a. market
b. economy
c. production
d. firm
b. economy
Regardless of whether you are looking through the microeconomics microscope or the macroeconomics telescope, the fundamental subject material of the interconnected economy doesn’t change.
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If the United States decides to trade with Yemen, we know that
a. Yemen will benefit, but trade with a less developed country could not benefit the United States. b. it will not benefit Yemen because workers in the United States are more productive. c. Yemen and the United States can both benefit. d. it will not benefit either country because their cultural differences are too vast.
Suppose that production for good X is characterized by the following production function, Q = K0.5L0.5, where K is the fixed input in the short run. If the per-unit rental rate of capital, r, is $25 and the per-unit wage, w, is $15, then the variable cost of using 81 units of capital and 9 units of labor is:
A. $135. B. $2,160. C. $2,025. D. There is insufficient information to determine the variable costs.
Because many European nations have adopted the euro as their common currency, they are ________ able to conduct independent ________ policy.
A. increasingly; fiscal B. increasingly; monetary C. no longer; monetary D. no longer; fiscal
Which of the following is the most frequently used tool of monetary policy?
A. Changing the discount rate B. Changing reserve requirements C. Open-market operations D. Interest rate changes