Refer to Table 2.4. The GDP deflator for 2011 is
A) 86.5.
B) 115.6.
C) 135.1.
D) 156.3.
B
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The tax wedge in the figure above is equal to ________ per hour, which creates an after-tax real wage rate of ________ per hour and employment of ________ billion hours per year
A) $10; $35; 250 B) $10; $35; 200 C) $15; $20; 200 D) $5; $35; 200 E) $15; $30; 250
The principle which states that as more and more units of a variable resource are added to a set of fixed resources, the resulting additions to output eventually become increasingly smaller, is the principle of
a. increasing production. b. functioning production. c. diminishing marginal returns. d. increasing returns to scale.
Given PUS and YUS
A) An increase in the European money supply causes the euro to appreciate against the dollar, but it does not disturb the U.S. money market equilibrium. B) An increase in the European money supply causes the euro to appreciate against the dollar, and it creates excess demand for dollars in the U.S. money market. C) An increase in the European money supply causes the euro to depreciate against the dollar, and it creates excess demand for dollars in the U.S. money market. D) An increase in the European money supply causes the euro to depreciate against the dollar, but it does not disturb the U.S. money market equilibrium. E) An increase in the European money supply causes the euro to depreciate against the dollar, and disturbing the U.S. money market equilibrium.
Which of the following is a characteristic of perfect competition?
a. homogeneous products b. many sellers c. many buyers d. all of the above