According to the Monetarists, the primary cause of inflation is:
a. large budget deficits.
b. high taxes.
c. rapid expansion of the money supply.
d. government expenditures that are large relative to the size of the economy.
c
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Suppose that the production function for the economy is: Y = AK1/4L3/4. Assume that A = 1,000, the capital stock is $32,000 billion, and the current labor force is 120 million (or 0.120 billion) workers
All else equal, if the labor force increased by 20 million workers, the value of the marginal product of capital will be A) $0.0104. B) $0.0239. C) $0.0639. D) $0.0717.
Michael Jordan is currently worth 25,000 and the CPI is 108
What will be an ideal response?
NAFTA refers to a 1994 agreement that eliminated most tariffs among which countries?
A) Canada, the United Kingdom, and Mexico B) the United States, the United Kingdom, and Mexico C) the United States, Canada, and Mexico D) the United States, Mexico, and Cuba
A vertical aggregate supply curve implies a vertical Phillips curve.
Answer the following statement true (T) or false (F)