What happened to the peso when the Argentine government succumbed to the market forces in 2002?
a. Revalued
b. Devalued
c. Depreciated
d. Appreciated
c
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The Leontief Paradox
A) failed to support the validity of the Heckscher-Ohlin model. B) supported the validity of the Ricardian theory of comparative advantage. C) supported the validity of the Heckscher-Ohlin model. D) failed to support the validity of the Ricardian theory. E) proved that the U.S. economy is different from all others.
Define the natural rate of unemployment and cyclical unemployment
Use the following table to answer the question below: The amount of total output produced from various combinations of labor and capital. 
If the amount of labor used increases from three to four units, the marginal product of the second unit of capital
A. decreases by 49 units. B. increases by 49 units. C. decreases by 14 units. D. increases by 8 units. E. none of the above
Based on the diagram, if potential output equals 5,000 and the real interest rate is 5 percent, then there is ________ gap and the Fed must ________ the real interest rate so that output will equal potential output.
A. no output; not change B. a recessionary; raise C. a recessionary; reduce D. an expansionary; raise