In 2009, our current account deficit was $__________ billion.
Fill in the blank(s) with the appropriate word(s).
421
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If the consumption function is C = 25 + 0.9y and income increases by $100, then savings will increase by
A) $10. B) $25. C) $90. D) $115.
The union representing the bread makers at the Hostess Bread Company went on strike and demanded higher wages than what the firm wanted to pay
I. If the firm is in a competitive labor market the union can only raise wages by decreasing employment. II. If the firm is a monopsony in the labor market the union can only raise wages by decreasing employment. III. If the firm is a monopsony in the labor market the union can both raise wages and increase employment. A) I only B) II only C) I and II D) I and III
If the inflation rate is zero, then
a. both the nominal interest rate and the real interest rate can fall below zero. b. the nominal interest rate can fall below zero, but the real interest rate cannot fall below zero. c. the real interest rate can fall below zero, but the nominal interest rate cannot fall below zero. d. neither the nominal interest rate nor the real interest rate can fall below zero.
Why do most firms in monopolistic competition typically make zero profit in the long run?
A) because firms produce differentiated products B) because the lack of entry barriers would compete away profits C) because firms do not produce at their minimum efficient scale D) because the total market is not large enough to accommodate so many firms