Assume that the current demand for goods DOES depend on expectations in the IS-LM model. A monetary expansion in the current period will cause a rightward shift in the IS curve if
A) current and expected future real interest rates are positively related.
B) current and expected future real interest rates are negatively related.
C) current and expected future real interest rates are unrelated.
D) the central bank is expected to reverse any current movements in monetary policy in the future.
E) monetary policy cannot affect, directly or indirectly, the position of the IS curve in the current period.
A
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Payments to a factor of production in excess of the minimum payments necessary to call it into existence constitute
a. consumers' surplus b. rent c. a golden parachute d. an efficiency wage
If the world price for good A is below the domestic price for good A without trade, then consumer surplus will ________ and producer surplus will ________ with trade.
A. decrease; decrease B. increase; decrease C. increase; increase D. decrease; increase
The idea that the production function exhibits _______implies that ________
A) increasing returns; output should increase steadily as technology grows B) constant returns; each additional unit of labor employed generates an increasing amount of real GDP C) diminishing returns; the Lucas Wedge increases at output increases D) increasing returns; potential GDP is always increasing E) diminishing returns; each additional unit of labor employed generates an ever-decreasing amount of real GDP
Which of the following is the Title that protects race?
a. title iv b. title v c. title vi d. title vii