What country is the world's largest exporter of services?
(A) Germany
(B) United States
(C) Great Britain
(D) Japan
Ans: (B) United States
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Other things being equal, an increase in the supply of money
A) reduces the amount of money balances. B) reduces aggregate demand. C) generates significant changes in relative prices. D) increases the price level.
Refer to the figure above. In comparison to the bundles on IC1, the bundles on IC3:
A) give the same level of utility and are affordable. B) give the same level of utility but are not affordable. C) give a higher level of utility and are affordable. D) give a higher level of utility but are not affordable.
In the short-run macroeconomic equilibrium
A) real GDP equals potential GDP and aggregate demand determines the price level. B) the price level is fixed and short-run aggregate supply determines real GDP. C) real GDP and the price level are determined by short-run aggregate supply and aggregate demand. D) real GDP is always less than potential GDP.
Refer to the information provided in Scenario 36.5 below to answer the question(s) that follow.SCENARIO 36.5: The tiny nation of Bugaboo consists of two virtually identical islands, Achoo and Zoink, separated by the Strait of Dingo. The islands are similar in geography and population. The only telephone service on the islands is cellular, and the only cellular provider on the islands is the government-owned Bugaboo Communications Company, which charges a standardized rate of 20 Bugabucks per minute. Both islands add on an additional $5 Bugabucks-per-minute usage tax. As a way to increase revenue, the island governor of Zoink decided to increase the usage tax to $10 per minute, effective January 1, 2017. The average monthly cellphone usage per month is listed in the table below.?Average
Monthly Telephone Use per Resident (minutes)Island20162017Achoo4,5005,150Zoink4,8005,225Refer to Scenario 36.5. The total cost of telephone service for residents of Zoink in 2016 is ________ Bugabucks. A. 4,800 B. 24,000 C. 96,000 D. 120,000