There are more poor whites than poor blacks in the U.S
Indicate whether the statement is true or false
T
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Assume an exchange rate of $1 = 0.60 British pound. A U.S. product sells in Britain for 18 pounds. By what percentage will dollar revenues change if the dollar price of a pound falls to 0.50 pound?
A. +20% B. +16% C. -16% D. -20%
When the percentage change in quantity supplied is greater than the percentage change in price, supply is said to be elastic
Indicate whether the statement is true or false
Which of the following is the most accurate definition of a worker's "marginal revenue product"?
a. the change in the firm's profits as the result of hiring an additional worker b. the change in the firm's total revenue as the result of hiring an additional worker c. the change in the firm's output as the result of hiring an additional worker d. the change in the firm's cost as the result of hiring an additional worker
If the multiplier is 6 and if there is no crowding-out effect, then a $60 billion increase in government expenditures causes aggregate demand to
a. increase by $250 billion. b. increase by $333 billion. c. increase by $360 billion. d. None of the above are correct.