A monetary system is what allows us to
a. earn a wage
b. compare the costs of different goods and services
c. invest in productive assets
d. be productive
e. consume today, rather than tomorrow
B
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The following is a total-product schedule for a resource. Assume that the quantities of other resources the firm employs remain constant.Units of ResourceTotal Product124242460680792If the product the firm produces sells for a constant $3 per unit, the marginal product of the fourth unit of the resource is
A. $15. B. $18. C. $27. D. $45.
Yesterday, the dollar was trading in the foreign exchange market at 1.10 euros per dollar. Today, the dollar is trading at 1.05 euros per dollar. The dollar has ________ and a possible reason for the change is ________ in the U.S. interest rate
A) depreciated; a decrease B) appreciated; a decrease C) depreciated; because there has been no change D) appreciated; an increase E) depreciated; an increase
A television station reports that the price of orange juice has declined but the quantity sold has increased. This situation would be caused by a(n):
a. Increase in demand b. Increase in supply c. Decrease in supply d. Decrease in demand
In the aggregate expenditures model, an increase in government spending may:
A. decrease real GDP. B. increase output and employment. C. shift the aggregate expenditures schedule downward. D. reduce the size of the inflationary gap.