The natural rate of unemployment is impervious to economic policy
a. True
b. False
Indicate whether the statement is true or false
False
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Karl Marx
A. believed that the state would eventually "wither away." B. Believed that the factory owner, by paying his workers meager wages, was able to use this surplus to buy more capital goods. C. Said whoever controlled a society's capital controlled that society. D. All of the statements about Karl Marx are true.
Supporters of a floating exchange rate cited all of the following as advantages over the Bretton Woods system EXCEPT
A) each country would be able to choose its own long run inflation rate. B) parity changes and speculative attacks would no longer be possible. C) countries would be forced to work cooperatively in deciding monetary policy. D) exchange rates would be set symmetrically in foreign markets rather than by government decision. E) governments would not need to export inflation to decrease domestic unemployment.
________ in the expected future domestic exchange rate causes the demand for domestic assets to ________ and the domestic currency to appreciate, everything else held constant
A) An increase; increase B) An increase; decrease C) A decrease; increase D) A decrease; decrease
Private costs are the same as
A) implicit costs. B) external costs. C) public costs. D) internal costs.