If H represents the number of hours spent on an activity, then which of the following could represent a total benefit function?
A. 400H - 30H2
B. 400H + 30H2
C. -400H - 30H2
D. -400H + 30H2
A. 400H - 30H2
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Your electrician accepts payment only in cash in order to avoid taxes. If you pay him $100, ________
A) the GDP of your country will increase B) the GDP of your country will remain unchanged C) the trade surplus of your country will increase D) the GDP of your country will fall
Which of the following would lead to an upward shift of the consumption-income line?
a. A decrease in income b. A decrease in population c. An increase in income d. An increase in wealth e. An increase in the interest rate
The nominal exchange rate is the
a. nominal interest rate in one country divided by the nominal interest rate in the other country. b. the ratio of a foreign country's interest rate to the domestic interest rate. c. rate at which a person can trade the currency of one country for another. d. the real exchange rate minus the inflation rate.
The use of government expenditures and taxes to influence the level of economic activity is called fiscal policy.
a. true b. false