Suppose total output (real GDP) is $10,000 and worker-hours are 20,000. We can conclude that:
A. real GDP per capita must be $200,000.
B. the price-level index must be less than 100.
C. labor productivity must be $0.50.
D. nominal GDP must be between $10,000 and $20,000.
C. labor productivity must be $0.50.
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The balance of payments schedule can be expressed as
a. X(Yƒ, ?) ? Z(Y, ?) ? F(r ? rƒ) = 0 b. X(Yƒ + ?) + Z(Y, ?) ? F(r ? rƒ) = 0 c. X(Yƒ, ?) ? Z(Y, ?) + F(r ? rƒ) = 0 d. X(Yƒ, ?) + Z(Y, ?) + F(r ? rƒ) = 0
Tax Wedge
What will be an ideal response?
A gamble in which you win D dollars if the coin comes up heads, but lose D dollars if the coin comes up tails has an expected value of
A. 0. B. -1/2D. C. 1/2D. D. D.
Increasing the transfers from workers to the unemployed counts as:
A) fiscal policy. B) monetary policy. C) neither fiscal nor monetary policy. D) both fiscal and monetary policy.