President George W. Bush's tax cut in 2001 was a rare example of
a. timely monetary policy.
b. timely fiscal policy.
c. the slow response of policy to events.
d. the inability of Congress to react to policy needs.
b
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Which of the following statements is true?
A) If higher water prices encourage a landlord to place bricks in the water tanks of his toilets to reduce water usage, then for him bricks are substitutes for water. B) If higher gasoline prices encourage a potential vacationer to stay at home and read a good book by the fire, rather than drive through the country, then for her firewood is a substitute for gasoline. C) Both A and B are true. D) None of the above are true.
Which of the following is an example of foreign direct investment in China?
A) Chinese Shenzen Airlines company buys a small U.S. midwest airline company, Air Chicago. B) The bank of China purchases U.S. Treasury bonds. C) A U.S. foreign exchange speculator buys $200,000 worth of the Chinese currency the yuan. D) The U.S. company Walmart buys a warehouse in Shanghai. E) U.S. auto entrepreneur Elon Musk buys stock in Alibaba Group Holding Limited of Hangzhou, China.
Define the terms of trade
What will be an ideal response?
Suppose the economy's production function is Y = AK0.3N0.7. If K = 2000, N = 100, and A = 1, then Y = 246. If A rises by 10 percent, and K and N are unchanged, by how much does Y increase?
A) 5% B) 10% C) 15% D) 20%