The economy reaches full employment when the unemployment rate equals zero
a. True
b. False
Indicate whether the statement is true or false
False
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Unlike a private good, a public good
A. has no opportunity costs. B. produces no positive or negative externalities. C. has benefits available to all, including nonpayers. D. is characterized by rivalry and excludability.
As a result of U.S. tariffs imposed on wool from New Zealand, the quantity of this wool that is imported has
A) not changed. B) increased a lot. C) decreased. D) increased a little. E) changed but whether it has increased or decreased is ambiguous.
Would each of the following groups be happy or unhappy if the Mexican peso appreciates against the U.S. dollar? Answer the question for each of the following:
(a) The U.S. pension funds holding Mexican government bonds (b) U.S. tourists planning a trip to Mexico (c) Mexican exporting manufacturers (d) A Mexican firm trying to buy properties overseas
Monetarists believe that: a. the government should follow a fixed rule to change money supply in response tobusiness cycles
b. the government should not use discretionary monetary policy to achieve its goals ofeconomic growth and low inflation. c. government intervention should be well thought out and should be used only during recessions. d. government intervention in the economy makes business cycles disappear. e. government intervention policies have only long-run effects.