Which of the following is considered part of the supply of U.S. dollars in the market for foreign-currency exchange in the open-economy macroeconomic model?
a. both a U.S. bank wanting to lend money to a Canadian company and a U.S. firm wanting to buy computers made in South Korea
b. a U.S. bank wanting to lend money to a Canadian company, but not a U.S. firm wanting to buy computers made in South Korea
c. a U.S. firm wanting to buy computers made in South Korea, but not a U.S.bank wanting to lend money to a Canadian company
d. neither a U.S. bank wanting to lend money to a Canadian company nor a U.S. firm wanting to buy computers made in South Korea
b
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In a market where one unit of labor produces one unit of output, consumers prefer
A) a competitive labor market and a monopoly output market. B) a competitive output market and a monopoly labor market. C) a monopoly output market and a monopoly labor market. D) None of the above—they are indifferent between A and B.
U.S. national defense spending is approximately ____ the amount spent on health care
a. twice b. four times c. ten times d. 1/4
Suppose that the government taxes income in the following fashion: 20 percent of the first $50,000 . 40 percent of the next $50,000 . and 60 percent of all income over $100,000 . Marshall earns $200,000 . and Lily earns $600,000 . Which of the following statements is correct?
a. Marshall's marginal tax rate is higher than Lily's marginal tax rate. b. Marshall's average tax rate is higher than his marginal tax rate. c. Lily's average tax rate is higher than her marginal tax rate. d. Lily's average tax rate is higher than Marshall's average tax rate.
The prisoner's dilemma is a well-known game in which:
A. players always cheat. B. noncooperation between prisoners is not the best joint action but is the best independent action. C. players never cheat. D. cooperation between prisoners is always the best independent action.