The efficiency wage model is an explanation of wage __________ and thus a support for the ____________________ view
A) flexibility; Keynesian
B) flexibility; classical
C) inflexibility; Keynesian
D) inflexibility; classical
C
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Use the following table to answer the next question.YearNominal GDPReal GDPPrice Index15,2004,800--25,500--11235,7505,000--What was real GDP in year 2?
A. $5,320 billion B. $4,911 billion C. $4,820 billion D. $4,875 billion
There is a technological advance in the production of digital watches. This will cause:
a. demand to increase. b. supply to increase. c. demand to decrease. d. supply to decrease. e. the price to increase.
What is the present value of a payment of $100 to be made one year from today if the interest rate is 6 percent?
a. $105.26 b. $105.00 c. $97.24 d. $94.34
In the early 2000s, Ecuador suffered high inflation because the central bank was financing a government deficit. In terms of fiscal and monetary policy, what created the problem of inflation was that Ecuador's:
A. fiscal policy was contractionary, but its monetary policy was expansionary. B. fiscal and monetary policy were contractionary. C. fiscal and monetary policy were expansionary. D. fiscal policy was expansionary, but its monetary policy was contractionary.