What are the effects on U.S. imports and exports when the U.S. experiences economic growth stronger than its major trading partners?
A. U.S. imports will increase more than U.S. exports
B. U.S. exports will increase more than U.S. imports
C. U.S. imports will decrease, but U.S. exports will increase
D. There will be no effect on U.S. imports and exports
A. U.S. imports will increase more than U.S. exports
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In terms of the marginal product of labor, how much labor is needed to produce one more unit of output? If the cost of that labor is w, then how much does one more unit of output cost to produce? If a firm is a perfectly competitive profit maximizer, show why they produce where w equals the marginal revenue product of labor.
What will be an ideal response?
Easy monetary policy and tight fiscal policy lead to
A) high real interest rates. B) low real interest rates. C) roughly unchanged real interest rates. D) roughly unchanged real interest rates only when Ricardian equivalence holds; otherwise, low real interest rates.
Government bureaus, unlike private firms,
a. derive their revenue by selling output to the government b. have incentives to respond to consumers' desires c. price their output by equating marginal cost and marginal revenue d. attempt to achieve zero profit e. receive little consumer feedback
Western Union's role in foreign-exchange trading is best described as ________.
A) setting a fair exchange rate in multiple currencies B) transferring currency from one country to another C) transferring Mexican pesos from the United States to Mexico D) handling all money transfers that occur between North an