Corporations account for a ____ proportion of the total number U.S. firms but a ____ proportion of sales by U.S. firms.
A. small; small
B. small; large
C. large; small
D. large; large
Answer: B
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What is the expected dollar rate of return on euro deposits if today's exchange rate is $1.167 per euro, next year's expected exchange rate is $1.10 per euro, the dollar interest rate is 10%, and the euro interest rate is 5%?
A) 10% B) 11% C) -1% D) 0%
A single firm in a competitive labor market has a labor supply curve that is
A) upward sloping. B) perfectly inelastic. C) perfectly elastic. D) downward sloping.
Many economists criticize protectionism because it causes losses to consumers and eliminates jobs in domestic industries that use protected products. Why, then, do some people support protectionism?
A) The criticisms of economists are based on theory. In fact, protectionism increases consumer and producer surplus as well as employment. B) Supporters of protectionism in high-income countries believe that wages will fall as a result of competition with firms from developing countries. C) Supporters of protectionism believe free trade will cause their countries to lose their comparative advantage. D) Supporters of protectionism believe that free trade will lead to inflation.
If the marginal propensity to consume is .80 and both taxes and government purchases increase by $50 billion, GDP will:
A. Increase by $50 billion B. Decrease by $50 billion C. Increase by $10 billion D. Decrease by $10 billion