An explanation for the slowdown in U.S. productivity growth in the 1973–1995 period was higher oil prices caused by
A. the CIA.
B. the WTO.
C. the IMF.
D. OPEC.
Answer: D
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When the U.S. capital and financial account shows a positive balance, that is an indication of
A) the United States acquiring more foreign reserves. B) the value of U.S. exports of capital goods exceeding the value of U.S. imports of capital goods. C) foreigners investing more in the United States than the United States is investing abroad. D) U.S. industries becoming more competitive. E) the value of all U.S. exports exceeding the value of all U.S. imports.
When international banks conduct daily trades of different currencies valuing in the millions of dollars
A) they are using the spot market. B) they are using the forward market. C) they are using the futures market. D) they are using the stock markets.
We manufacturer automobiles given the production function q = 5KL where q is the number of autos assembled per eight-hour shift, K is the number of robots used on the assembly line (capital) and L is the number of workers hired per hour (labor)
If we use K=10 robots and L=10 workers in order to produce q = 450 autos per shift, then we know that production is: A) technologically efficient. B) technologically inefficient. C) maximized. D) optimal.
Refer to the game between James and Theodore depicted in Figure 12.1. Which of the following is true?
A. If James chooses Up, Theodore's best response is to choose Left.
B. If James chooses Down, Theodore's best response is to choose Right.
C. If Theodore chooses Left, James's best response is to choose Down.
D. If Theodore chooses Right, James's best response is to choose Up.