At its peak in 1913, the gold standard system had been adopted by_______ of countries.
A) 85%
B) 35%
C) 13%
D) 70%
Ans: D) 70%
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An increase in the amount of physical capital will cause
A) an increase in both aggregate demand and real GDP, but have no effect on the price level. B) an increase in both aggregate supply and real GDP, but have no effect on the price level. C) aggregate demand and aggregate supply to increase by the same amounts, causing real GDP to increase and the price level to remain constant. D) an increase in both aggregate supply and real GDP and a reduction in the price level.
The bond supply and demand framework is easier to use when analyzing the effects of changes in ________, while the liquidity preference framework provides a simpler analysis of the effects from changes in income,
the price level, and the supply of ________. A) expected inflation; bonds B) expected inflation; money C) government budget deficits; bonds D) government budget deficits; money
All else equal, what happens to consumer surplus if the price of a good decreases?
a. Consumer surplus increases. b. Consumer surplus decreases. c. Consumer surplus is unchanged. d. Consumer surplus may increase, decrease, or remain unchanged.
In a labor market characterized by bilateral monopoly, the wage rate will:
A. be logically indeterminate. B. be established at the level desired by the union. C. be established at the level desired by the employer. D. always be established at the competitive level.