Countries that have a large number of embassies, have memberships to international organizations, and participate in UN peace missions would be categorized under _____ globalization
a. cultural
b. social
c. political
d. economic
e. ethical
c
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Assume an individual is currently using all of his income to consume two goods — X and Y
If the prices of X and Y are $3 and $8, respectively, and the marginal rate of substitution of X for Y is four, is this individual maximizing his net benefits from consumption? If not, what should he do to increase his total utility?
Which procedure seems to be most useful to structure a macroeconomic analysis?
a. (1) Analyze the chain reaction of economic causes and effects; (2) Identify the economic shock; (3) Describe the economic setting in the three key markets. b. (1) Analyze the chain reaction of economic causes and effects; (2) Describe the economic setting in the three key markets; (3) Identify the economic shock. c. (1) Identify the economic shock; (2) Analyze the chain reaction of economic causes and effects; (3) Describe the economic setting in the three key markets. d. (1) Identify the economic shock; (2) Describe the economic setting in the three key markets; (3) Analyze the chain reaction of economic causes and effects. e. (1) Describe the economic setting in the three key markets; (2) Identify the economic shock; (3) Analyze the chain reaction of economic causes and effects.
The seasonally adjusted unemployment rate
A. reports only seasonal unemployment. B. is impossible to compute since no one knows what the seasonal component equals. C. is another name for structural unemployment. D. removes the seasonal variation from the unemployment rate.
A minimum wage
A) increases all workers' surplus because the wage rate increases. B) increases consumer surplus because the price of the good decreases. C) decreases the firms' surplus because fewer workers are hired at the higher wage. D) increases the firms' surplus and the workers' surplus because it increases the efficiency of the labor market. E) None of the above answers is correct.