Karl Marx published:
A. Das Kapital.
B. General Theory of Communism.
C. The Wealth of Nations.
D. Capitalist Manifesto.
Answer: A
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Consumers in a country buy only two goods, sneakers and manicures. The prices and quantities purchased by urban households are in the table above. The reference base year is 2011. The inflation rate between 2011 and 2012 is
A) $15. B) 15.0 percent. C) $10. D) 10.3 percent. E) 9.0 percent.
Assume that the expectation of declining housing prices cause households to reduce their demand for new houses and the financing that accompanies it. If the nation has low mobility international capital markets and a flexible exchange rate system, what happens to the quantity of real loanable funds per time period and the nominal value of the domestic currency in the context of the
Three-Sector-Model? a. Real GDP falls, and nominal value of the domestic currency rises. b. Real GDP falls, and nominal value of the domestic currency remains the same. c. Real GDP rises, and nominal value of the domestic currency rises. d. Real GDP falls, and nominal value of the domestic currency falls. e. There is not enough information to determine what happens to these two macroeconomic variables.
The portion of planned aggregate expenditure that is independent of output is called ________ expenditure.
A. potential B. actual C. planned D. autonomous
Dalton, Georgia, a town with a population less than 35,000, has developed into a leading producer of carpets, despite its small size. Some government officials argue that the success achieved by firms in Dalton in developing a comparative advantage in
carpet making because of external economies can be used to justify trade barriers as a means to protect an "infant industry." After an infant industry gains experience it can compete in international markets and the trade barriers can be removed. What objections do economists make to this argument in favor of trade barriers? What will be an ideal response?