Which of the following macroeconomic variables is not in the equation of exchange?
a. GDP price index.
b. Real GDP.
c. Real exchange rate.
d. Money supply.
e. All of the above are part of the equation of exchange.
.C
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When increased government spending results in decreased consumer or business spending, the government spending is said to be crowding out the consumer and business spending
Indicate whether the statement is true or false
William Safire argues that a unilateral free trade policy is a disaster if
a. the governments of the nations' trading partners practice "helpfulism." b. infant industries are allowed to expire. c. the national defense is endangered. d. it hurts the poor.
The opportunity cost of purchasing an item is
a. the number of hours needed to earn money to buy it. b. the next best thing you could have done with the time and money spent. c. always less than the dollar value of the item. d. always equal to the dollar value of the item. e. just the time required to buy it.
Sam, who owns a carpentry shop, discovered that with 4 laborers he could produce 18 cabinets per day. With 5 laborers he produced 25 cabinets and with 6 laborers he produced 36 cabinets. What was the MPP of the 5th laborer?
A. 6 cabinets B. 4 cabinets C. 8 cabinets D. 7 cabinets