The key aspect to product differentiation is
A. physical differences.
B. ambience.
C. convenience.
D. the buyer's mind.
D. the buyer's mind.
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Suppose a nation's population grows by 2 percent and, at the same time, its GDP grows by 5 percent. Approximately how fast will real GDP per person increase?
A) 3 percent per year B) 2 percent per year C) 5 percent per year D) 10 percent per year
Expansionary policy only leads to inflation, but does not raise output in ________
A) traditional Keynesian theory B) new Keynesian theory C) real business cycle theory D) traditional Keynesian, new Keynesian and real business cycle theory
Theoretically, an increase in the real wage
A) increases leisure. B) decreases leisure. C) has an ambiguous effect on leisure. D) has no effect on leisure.
Assume the exchange rate of the domestic currency is overvalued. What does the central bank need to do in order to keep the exchange rate fixed?
a. There is no need to intervene since the domestic currency is not undervalued. b. It needs to increase the money supply by raising the discount rate. c. It needs to sell the excess demand for foreign currency. d. It needs to buy the excess supply of foreign currency. e. It needs to decrease the money supply by lowering the discount rate.