If U.S. quotas on imported sugar were eliminated,
A. The demand for sugar in the United States would shift to the left and prices would fall.
B. The world price of sugar would rise.
C. The supply of sugar in the United States would shift to the left and prices would rise.
D. The supply of sugar in the United States would shift to the right and sugar prices would fall.
Answer: D
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A) 1 video tape per audio tape B) 2 video tapes per audio tape C) 14 video tapes per audio tape D) There is no opportunity cost.
Attempts to fine-tune the economy through counter-cyclical monetary policy
A) demonstrated their effectiveness in the 1930s. B) demonstrated their effectiveness during World War II. C) demonstrated their effectiveness between 1945 and 1960. D) have not yet demonstrated their effectiveness.
Assume that the central bank lowers the discount to increase the nation's monetary base. If the nation has highly mobile international capital markets and a fixed exchange rate system, what happens to the real risk-free interest rate and GDP Price Index in the context of the Three-Sector-Model? State your answer after the macroeconomic system returns to complete equilibrium. a. The real
risk-free interest rate falls and GDP Price Index falls. b. The real risk-free interest rate rises and GDP Price Index falls. c. The real risk-free interest rate and GDP Price Index remain the same. d. The real risk-free interest rate falls and GDP Price Index rises. e. There is not enough information to determine what happens to these two macroeconomic variables.
A production function:
A. defines the minimum amount of output that can be produced with inputs such as capital and labor. B. defines the average amount of output that can be produced with inputs such as capital and labor. C. is determined only by the expenditures on R&D. D. represents the technology available for turning inputs into output.