In 1998 an economic and financial crisis in South Korea caused it to experience
A) a surplus in their balance of payments.
B) a deficit in their balance of payments.
C) a balanced balance of payments.
D) an unbalanced balance of payments.
E) a lull in international trade.
A
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The growth rate in the autonomous factor (a) in the production function can be directly influenced by all of the following EXCEPT
A) environmental legislation. B) support for research and development. C) subsidies for education. D) initiation of tax indexation.
Which of the following is the equation of exchange?
a. M – V = P – Q b. M + V = P – Q c. M ÷ V = P x Q d. M x V = P x Q
Aggregate supply shocks are:
A. the results of fiscal policy actions. B. inflation shocks or shocks to potential output. C. the results of monetary policy actions. D. the results of structural policy actions.
Suppose n identical Cournot firms purchase labor in a competitive labor market. How is the market demand for labor affected by the number of firms in the market?
What will be an ideal response?