After Hurricane Katrina destroyed much of the infrastructure of the United States Gulf Coast,
A) labor became more valuable.
B) labor became less valuable because of the capital that had been destroyed.
C) labor became less valuable because FEMA's response wasn't timely.
D) labor became more valuable because of the rebuilding effort.
B
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Which of the following is not a necessary condition for a flat BP curve?
A) perfect capital mobility B) perfect asset substitutability C) fixed exchange rates D) floating exchanges rates E) Both C and D
The demand for a new effective drug for the cure of AIDS would most likely be
a. elastic. b. unit elastic. c. perfectly elastic. d. highly inelastic.
If there is a permanent increase of 5% in the domestic money supply, then which of the following will be true in the long run?
a. Prices will decrease by 5%. b. Prices will increase by 4%. c. The home country currency will depreciate by 5%. d. The home country currency will appreciate by 4%.
A firm will use land up to the point at which the MRP of land is equal to the price of land.
Answer the following statement true (T) or false (F)