Every trading day, a total of roughly a ______ dollars in currency trades hands in the foreign exchange markets.
a. thousand
b. million
c. billion
d. trillion
d. trillion
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Diminishing marginal returns occur in the short run.
Answer the following statement true (T) or false (F)
According to real business cycle theorists,
A) fiscal policy explains most changes in output. B) price and wage rigidity explain most changes in output. C) efficiency wage theory explains wage rigidity. D) changes in output primarily represent changes in the natural level of output. E) fiscal policy explains most changes in efficiency wage theory.
The price of a new textbook increased by 35 percent and the price of a used textbook increased by 30 percent. What happened to the relative price of the new textbook?
A) It increased by 5 percent. B) It increased, but we can't tell by how much without more information. C) It decreased by 5 percent. D) It decreased, but we can't tell by how much without more information.
In the Solow model, if f(k) = 2k0.5, s = 0.25, n = 0.05, and d = 0.2, what is the value of k at equilibrium?
A. 1 B. 2 C. 3 D. 4