Which of the following phrases would be used to describe an income amount?
A. Per year
B. Per month
C. Per week
D. All of the above are correct.
Answer: D
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Firms spend significant amounts of time and resources developing pricing strategies
Indicate whether the statement is true or false
Assume that the central bank increases the reserve requirement. If the nation has low mobility international capital markets and a flexible exchange rate system, what happens to the GDP Price Index and current international transactions in the context of the Three-Sector-Model?
a. The GDP Price Index falls, and current international transactions become more negative (or less positive). b. The GDP Price Index rises, and current international transactions becomes more negative (or less positive). c. The GDP Price Index and current international transactions remain the same. d. The GDP Price Index rises, and current international transactions remain the same. e. There is not enough information to determine what happens to these two macroeconomic variables.
The change in the quantity of aggregate output demanded depends on how much the aggregate expenditure line shifts, not on which spending component causes the shift
Indicate whether the statement is true or false
A producer is hiring 20 units of labor and 6 units of capital (bundle A). The price of labor is $10, the price of capital is $2, and at A, the marginal products of labor and capital are both equal to 20. In equilibrium,
A. MPL will be less than 20. B. MPL will be 5 times MPK. C. MPK will be more than 20. D. a and b E. none of the above