The labor demand curve tells us
A. how many workers the firm will want to hire, given the wage.
B. the marginal product created by an additional worker times the wage.
C. the marginal revenue created by an additional worker.
D. the marginal profit generated by an additional worker.
Answer: A
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Japan's trade policies with regard to rice reflect the fact that
A) japanese rice farmers have significant political power. B) Japan has a comparative advantage in rice production and therefore exports most of its rice crop. C) there would be no gains from trade available to Japan if it engaged in free trade in rice. D) there are gains from trade that Japan captures by engaging in free trade in rice. E) Japan imports most of the rice consumed in the country.
If investment becomes more interest-sensitive,
A) monetary policy will have a smaller impact on the equilibrium interest rate. B) monetary policy will have a greater impact on equilibrium income. C) fiscal policy will have a smaller impact on equilibrium income. D) fiscal policy will have a larger impact on the equilibrium interest rate.
How does an aggregate demand curve differ from an individual demand curve?
a. An aggregate demand curve shows the quantity demanded at various prices, whereas an individual demand curve shows the quantity demanded at different price levels. b. An aggregate demand curve deals with particular goods, whereas an individual demand curve shows the quantity demanded by a single nation. c. An aggregate demand curve deals with the economy as a whole, whereas an individual demand curve shows the quantity demanded by one person. d. An aggregate demand curve shows the changes in prices of related goods, whereas an individual demand curve shows the changes in economy-wide prices.
Under a floating exchange-rate regime, in the very short run (before the exchange rate adjusts), expansionary fiscal policy will lead to
A. improvement in the current account but deterioration in the financial account. B. deterioration in the current account but improvement in the financial account. C. improvement in both the current account and financial account. D. deterioration in both the current account and financial account.