Of these areas of macroeconomics, which employs the fewest economists?
A. Macroeconomic forecasting
B. Macroeconomic research
C. Macroeconomic analysis
Answer: A
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A common trait of money through history and across cultures is that money
A) was always fiat money. B) was always generally accepted as a means of payment. C) always had mystical properties. D) was always issued by the local government. E) was always based on gold or some other precious commodity.
Refer to Figure 9.1. The firm's profit stays the same whether it produces:
A. 0 or 50 units of output.
B. 50 or 85 units of output.
C. 0 or 85 units of output.
D. 0, 50 or 85 units of output.
An negative externality is present whenever:
a. the private marginal cost of an activity exceeds the private marginal benefit. b. the private marginal benefit of an activity exceeds the private marginal cost. c. the social marginal cost of an activity exceeds the private marginal cost. d. none of the above
Gordon notes that along with slow labor productivity growth in the period 1973-1995, real wages also grew slowly
What sort of productivity shocks are consistent with this explanation of the link between real wage growth and the growth of labor productivity? A) productivity shocks which decrease supply of labor given the demand for labor B) productivity shocks which increase supply of labor given the demand for labor C) productivity shocks which increase demand for labor given the supply of labor D) productivity shocks which decrease demand for labor given the supply of labor