Sarita is a macroeconomist studying the economy of Singapore. Which of the following areas of study would she be most interested in researching?
a. What management techniques do firms in Singapore typically use to train
employees?
b. Do consumer electronics firms prefer manufacturing in Singapore over China?
c. How have government efforts to increase Singaporean wages affected the nation’s
economy?
d. How will Singaporean businesses respond to new reports of U.S. trade tariffs?
c. How have government efforts to increase Singaporean wages affected the nation’s
economy?
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"Fair" outcomes and "efficient" outcomes are always identical
a. True b. False Indicate whether the statement is true or false
Which of the following would cause the actual deposit expansion multiplier to be less than its potential?
a. the general public holding of funds in the form of currency rather than bank deposits b. the holding of excess reserves by commercial banks c. the general public holding of funds in the form of coins rather than bills d. both a and b
Suppose that the United States imposes a tariff of $500 per car on Japanese cars. The most likely effect will be to increase the price of cars in the United States by:
A) less than $500 per car, and decrease the price of cars in Japan by less than $500 per car. B) $500 per car. C) more than $500 per car. D) less than $500 per car without affecting the price of cars in Japan.
Suppose you pre-ordered a non-refundable movie ticket to Avengers: Infinity War. On the day of the movie you decide that you would rather not go to the movie. According to economists, what is the rational thing to do?
A) Since you do not want to go to the movie and the cost of the movie ticket is a sunk cost, how much you paid for the ticket should not influence your decision. B) You should not waste resources. Since you have paid for the ticket you should watch the movie. C) Your should go to the movie to minimize your losses. D) You should go to the movie to maximize your utility.