In 1933, net private domestic investment was a minus $6.0 billion. This means that:
A. gross private domestic investment exceeded depreciation by $6.0 billion.
B. the economy was expanding in that year.
C. the production of 1933's GDP used up more capital goods than were produced in that year.
D. the economy produced no capital goods at all in 1933.
C. the production of 1933's GDP used up more capital goods than were produced in that year.
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In the early 1930s, the currency-deposit ratio rose, as did the level of excess reserves. Money supply analysis predicts that, everything else held constant, the money supply should have
A) risen. B) fallen. C) remain unchanged. D) either risen, fallen, or remain unchanged.
It is a known fact that the same multinational company may pay lower wages to its workers in a developing country than to those in an industrialized country. Why is this not considered an evidence of worker exploitation?
a. Rich people deserve higher pay. b. The workers in developing countries have lower consumption levels than those in developed countries, thus they get lower wages. c. Local wages in developing countries are generally lower than in industrialized countries, with or without globalization. d. Workers in developing countries have higher benefits, making the overall wages about the same in both kinds of countries. e. Most workers in developing countries are comparatively younger, and they get lower wages because of their lack of experience.
Units of CapitalNumber of WorkersOutput/Day50051405290531505420055235
Refer to Table 2.3. Increasing the number of workers from 2 to 3 will increase output per day by:
A. 60 units. B. 90 units. C. 150 units. D. 240 units.
The rationale for exchange rates determining AD is with
A. weaker dollar exports, AD will rise. B. stronger dollar exports, AD will rise C. stronger dollar imports, AD will rise. D. weaker dollar imports, AD will rise.