In describing the economic setting in the real goods market, which of the following economic measures is the most helpful?
a. Current GDP Price Index
b. Current GDP level
c. Current capacity utilization rate
d. Current real exchange rate
e. Current nominal exchange rate
.C
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What is potential GDP? What happens to unemployment when GDP is at its potential?
What will be an ideal response?
When a firm is on the portion of its long run ATC curve that slopes upward, it is experiencing:
A. diseconomies of scale. B. economies of scale. C. constant returns to scale. D. Any of these is possible.
The cross-price elasticity of demand for textbooks and copies of old exams is ?3.5. If the price of copies of old exams increases by 10 percent, the quantity demanded of textbooks will:
A. rise by 3.5 percent. B. rise by 35 percent. C. fall by 35 percent. D. fall by 3.5 percent.
Foreign direct investment outflows have a positive impact on workers in the home country.
Answer the following statement true (T) or false (F)