Compared to our trade deficit with Japan from 2002-2009, our deficit with China was
A. much larger.
B. slightly larger.
C. slightly smaller.
D. much smaller.
A. much larger.
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Which of the following statements would Milton Friedman disagree with?
A) Monetary policy has few short-run effects on the real economy. B) In the long run, changes in the money supply primarily affect the price level. C) In practice, there is little scope for using monetary policy actively to smooth out business cycles. D) The Federal Reserve cannot be relied on to effectively smooth out business cycles.
In a competitive labor market, the change in total labor costs divided by the change in labor is always equal to:
a. one. b. the wage rate. c. the number of firms in the market. d. the change in total revenue. e. the competitive market price of the output.
If A and B are two sets such that set A is a subset of B, and "Pr" represents the probability, then Pr(A and B) will be:
a. Pr[A]. b. Pr[B]. c. Pr[A-B]. d. Pr[A+B].
In the long run a firm will choose a plant size that has the:
A. Minimum of average fixed costs B. Capacity to produce the largest quantity of the product C. Minimum average total cost of producing the target level of output D. Maximum level of resource use per unit of the total product of output