In the IS equation, which of the following is an endogenous variable?
A) autonomous investment
B) autonomous net exports
C) taxes
D) all of the above
E) none of the above
E
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Using the real business cycle theory, explain the effects of an adverse technological shock on the labor market and on the output market. Illustrate graphically how the adverse technology shock affects labor demand and supply
Why is this theory controversial?
Paul goes to Sportsmart to buy a new tennis racquet. He is willing to pay $200 for a new racquet, but buys one on sale for $125. Paul's consumer surplus from the purchase is
A) $325. B) $200. C) $125. D) $75.
The elasticity of demand for labor will be less the
A) longer the time period. B) easier it is to substitute one input for another. C) less the demand elasticity for the final product. D) larger the share of total costs accounted for by labor.
To reduce the problems of illegal immigrants, should the United States license migrant workers from Latin America who want to work in the United States as visiting workers, as long as jobs are available?
What will be an ideal response?