Behavioral economists recommend mechanisms to help people actually do things they say they want to do but often don't. Such mechanisms are often called
A. commitment devices.
B. self-control.
C. savings rates.
D. charitable donations.
Answer: A
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The short-run market supply curve is
a. the horizontal summation of each firm's short-run supply curve. b. the vertical summation of each firm's short-run supply curve. c. the horizontal summation of each firm's short-run average cost curve. d. the vertical summation of each firm's short-run average cost curve.
If Anh's elasticity of labor supply is 1.5 and she increases her supply of labor by 5 percent, then the wage rate must have
A. Increased by 3.3 percent. B. Increased by 3.0 percent. C. Decreased by 7.5 percent. D. Increased by 7.5 percent.
A borrower who has to pay an interest rate of 8% rather than 6% due to risk spread will pay:
A. $20 more in interest annually for every $100 borrowed. B. 2% in net interest. C. less interest in total over the life of the loan. D. 33.3% higher interest in dollar terms.
Given the combination of purchasing power parity (PPP) with quantity theory equations, which of the following statements is true?
A. As long as the money supplies in the two countries are the same, the exchange rate will be equal to one. B. Everything else remaining unchanged, the price of the foreign currency (e) would be reduced by an increase in the relative size of the money supply in the domestic economy. C. Everything else remaining unchanged, the price of the foreign currency (e) would be raised by an increase in the relative size of foreign production. D. The exchange rate would remain unaffected as long as the relative growth in productivity between the two nations remains constant, even if the relative money supply varies between the two economies.