What is the quota for "diversity immigrants" into the U.S.?
A. 1 million per year
B. 500,000 per year
C. 50,000 per year
D. 25,000 per year
C. 50,000 per year
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A Phillips curve implies
A. a negative relationship between consumption and saving. B. a positive relationship between inflation and prices. C. a negative relationship between inflation and unemployment. D. a positive relationship between consumption expenditure and inflation.
You borrow $10,000 from a bank for one year at a nominal interest rate of 5%. If inflation over the year is 2%, what is the real interest rate you are paying?
A) 2% B) 2.5% C) 3% D) 5%
In the complete algebraic formulation of ISLM,
A) the government spending multiplier is greater than the tax mulitplier as long as b <1. B) the government spending mulitplier is less than the tax multiplier as long as b<1. C) monetary policy is always more powerful than fiscal policy. D) fiscal policy is always more powerful than monetary policy.
Briefly explain the concept of opportunity cost. What is the opportunity cost of attending college?
What will be an ideal response?