Given the table below, as the number of workers increases from 10 to 15, output per worker
A. decreases from 29 to 28
B. decreases from 30 to 26
C. increases from 28 to 29
D. increases from 290 to 420
E. none of the above
Answer: A
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Rational expectations theory suggests that short-run stabilization policy
A) is best achieved with monetary policy. B) is best achieved with fiscal policy. C) is equally easy to achieve with monetary or fiscal policy. D) should not be attempted.
The following is not associated with bid-rigging
a. bid-riggers bidding their true value b. "knockout" auctions c. bid rotations d. amnesty to the first conspirator willing to testify against fellow conspirators
You bought some shares of stock and sell them one year later. At the end of the year, the price per share was 5 percent higher and the price level was 3 percent higher. Before taxes, you experienced
a. both a nominal gain and a real gain, and you paid taxes on the nominal gain. b. both a nominal gain and a real gain, and you paid taxes only on the real gain. c. a nominal gain and a real loss, and you paid taxes on the nominal gain. d. a nominal gain and a real loss, and you paid no taxes on the transaction.
If the inflation rate turns out to be greater than was is expected to be, the clear losers are
A. businesses. B. people on incomes adjusted by a COLA. C. borrowers. D. lenders.