The use of GDP to measure the economy began
A. as part of the Great Society legislation.
B. during the Ford administration.
C. in the 1930s.
D. after World War II.
Answer: C
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Refer to above figure. Would you expect to find that the real wages become equalized in both countries? Explain the reason for any differences you note
What will be an ideal response?
If the marginal rate of return expected from a purchase of equipment is greater than the market interest rate, the firm should
a. not purchase the equipment b. purchase the equipment c. either purchase or not purchase the equipment, depending on the marginal resource cost d. inform stockholders that the company expects a decrease in earnings from the purchase e. seek government assistance in raising market interest rates
What would happen if the German economy became viewed as a less desirable place for foreign investors to put their money because of fears about the growth of the German public debt?
a. Equilibrium would not change. b. A lower quantity of financial investment would result. c. A lower interest rate would result. d. Interest rates would not change.
The virtual currency battle between Facebook and Zynga reminds us that:
a. Once a company starts a virtual currency, it is difficult and costly to abolish the currency. For nations, the same is true. Countries, like Greece, that entered the European Monetary Union now find it very difficult and costly to abandon the euro. b. Companies that start virtual currencies can abolish them rather quickly, which stands in stark contrast to countries, like Greece, that entered the European Monetary Union but now find it difficult and costly to abandon the euro. c. Companies that start virtual currencies are like countries, such as Greece, that entered the European Monetary Union. In both cases, it appears relatively easy to abandon the virtual currency and currency area. d. Countries, like Greece, that entered the European Monetary Union now find it relatively easy and inexpensive to abandon the euro. This stands in stark contrast to companies that start virtual currencies and wish to abolish them.