Which of the following changes will shift the money demand curve leftward?
a. An increase in the price level
b. An increase in real GDP
c. A decrease in the nominal interest rate
d. An increase in the nominal interest rate
e. A decrease in real GDP
e
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Nominal wages can be converted into real wages by
a. multiplying the nominal wages by the CPI. b. adding the CPI to the nominal wages. c. subtracting the CPI from the nominal wages. d. dividing the nominal wages by the CPI.
Refer to Figure 2-13. What is the opportunity cost of producing 1 ton of pineapples in Guatemala?
A) 1/2 of a ton of coconuts B) 1 1/3 tons of coconuts C) 2 tons of coconuts D) 180 tons of coconuts
Congress expects Social Security and Medicaid to fall short of revenue that will be needed to cover promised benefits in the future. On what evidence are these expectations based?
The estimated cost of automobile jobs saved due to limitations on foreign autos is $105,000 per job. Why is there a cost to saving jobs through protectionism?