Which of the following statement(s) is (are) false?
A) The current U.S. Secretary of Agriculture is Sonny Perdue.
B) The U.S. economy represents a purely capitalistic system.
C) The index most frequently used by economists to measure inflation is the CPI.
D) Both B and C.
Answer: B
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The average total cost curve of a firm is U shaped.
Answer the following statement true (T) or false (F)
Examining data on cyclical unemployment plotted against unanticipated inflation shows
A) a positive relationship. B) a negative relationship. C) no significant relationship. D) a relationship only during the 1960s.
If the demand curve a firm faces shifts to the right, usually:
a. it would be impossible to tell whether the marginal revenue curve shifts. b. the marginal revenue curve would shift to the left. c. the marginal revenue curve would shift to the right. d. the marginal revenue curve would not shift.
Assume that foreign capital flows from a nation increase due to political uncertainly and increased risk. If the nation has highly mobile international capital markets and a fixed exchange rate system, what happens to the quantity of real loanable funds per time period and the nominal value of the domestic currency in the context of the Three-Sector-Model? a. The quantity of real loanable funds
per time period rises and nominal value of the domestic currency falls. b. The quantity of real loanable funds per time period falls and nominal value of the domestic currency remains the same. c. The quantity of real loanable funds per time period rises and nominal value of the domestic currency remains the same. d. The quantity of real loanable funds per time period rises and nominal value of the domestic currency rises. e. There is not enough information to determine what happens to these two macroeconomic variables.