According to the real business cycle theory, technological advances
A. decrease the marginal product of labor, which causes real wages and output to increase.
B. increase the marginal product of labor, which causes real wages and output to increase.
C. increase the marginal product of labor, which causes real wages to increase and output to decline.
D. increase the marginal product of labor, which causes real wages and output to decline.
Answer: B
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The figure above shows the relationship between the price of a dozen roses and the quantity of roses a florist can sell. The slope between points B and C equals
A) 16. B) 8. C) 4. D) 2. E) 14.
All of the following are names for bonds receiving low ratings EXCEPT:
A) junk B) garbage C) high yield D) speculative
When exchange rates are set by government decree,
a. appreciation is called devaluation. b. depreciation is called devaluation. c. depreciation is called deflation. d. appreciation is called inflation.
Countries that export a diversified selection of export products do not seem to be at much risk of experiencing immiserizing growth.
Answer the following statement true (T) or false (F)