The majority of economists favor open capital flows
Indicate whether the statement is true or false
FALSE
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Use the following graph for a monopolistically competitive firm to answer the next question.
A firm with which demand curve has more control over prices?
A. B, because its more elastic B. A, because it's more inelastic C. B, because it's more inelastic D. A, because it's more elastic
Explain the complete formula for the M1 money supply, and explain how changes in required reserves, excess reserves, the currency ratio, the nonborrowed base, and borrowed reserves affect the money supply
What will be an ideal response?
A genuine progress indicator (GPI) attempts to:
A. adjust GDP so that it reflects more than just the level of economic activity. B. develop a new measure that focuses entirely on noneconomic activity. C. adjust GDP so that it more accurately measures changes in economic activity. D. not incorporate any measure of economic activity.
The sectoral shifts hypothesis claims that
A. there will always be a pool of unemployed workers who find jobs quickly (i.e., the frictionally unemployed). B. cyclical unemployment will always exceed frictional unemployment. C. frictional unemployment will cause workers to extend their temporary lay-offs. D. there will always be a pool of unemployed workers who experience long spells of unemployment because their skills do not match those that employers are looking for (i.e., the structurally unemployed). E. most unemployed workers will return to their previous job because the firm knows the skills of the worker.