If there was both an increase in technology and an increase in labor force participation, real GDP growth would ____ and real GDP growth per capita would ____
a. increase: increase
b. be indeterminate; be indeterminate
c. be indeterminate; decrease
d. increase; be indeterminate
a
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A. Define the term "globalization."
b. Describe the benefits of globalization. c. Who is likely to oppose globalization and why? What will be an ideal response?
Two identical firms that share a market and produce a homogenous good will find the Bertrand Oligopoly LEAST attractive because
A) Cartels generate the highest joint profit. B) a Cournot Oligopoly will generate more profit than a Bertrand Oligopoly. C) they want to avoid a price war that leads to profit erosion and P = MC. D) All of the above.
A depreciation of Mexico's currency (the peso) means that
a. Mexico's exports will become more expensive b. it now requires fewer pesos to exchange for one unit of another currency c. Mexico's imports will become less expensive d. it now requires more pesos to exchange for one unit of another currency e. it now requires more of other currencies to exchange for one peso
Your boss gives you an increase in the number of dollars you earn per hour. This increase in pay makes
a. your nominal wage increase. If your nominal wage rose by a greater percentage than the price level, then your real wage also increased. b. your nominal wage increase. If your nominal wage rose by a greater percentage than the price level, then your real wage decreased. c. your real wage increase. If your real wage rose by a greater percentage than the price level, then your nominal wage also increased. d. your real wage decrease. If your real wage rose by a greater percentage than the price level, then your nominal wage decreased.