Wage differentials are due exclusively to differences in market structure
a. True
b. False
B
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Assume the central bank decides to pursue contractionary monetary policy. Where and how should you begin your analysis when analyzing the chain reaction of economic interactions?
a. Start the analysis in the real goods market with aggregate demand shifting to the right. b. Start the analysis in the real credit market with demand for real credit shifting to the left. c. Start the analysis in the real credit market with demand for real credit shifting to the right. d. Start the analysis in the real credit market with supply of real credit shifting to the left. e. Start the analysis in the real credit market with supply of real credit shifting to the right.
Consider a Cournot oligopoly consisting of four identical firms producing good X. If the firms produce good X at a marginal cost of $7 per unit and the market elasticity of demand is ?2, determine the profit-maximizing price.
A. $12 per unit B. $6 per unit C. $8 per unit D. $10 per unit
The exchange rate between the U.S. dollar and the Japanese yen change
A. every five years. B. on a yearly basis. C. on a monthly basis. D. at times from one minute to the next.
A policy mix of an expansionary fiscal policy and a contractionary monetary policy would cause
A) output to decrease and interest rates to decrease. B) output to decrease and interest rates to increase. C) output to decrease and interest rates to either increase, decrease, or remain unchanged. D) output to either increase, decrease, or remain unchanged and interest rates to increase.