Refer to the above figure. Which of the graphs is consistent with the long-run aggregate supply curve?
A) Graph A B) Graph B C) Graph C D) Graph D
A
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Under a gold standard in which one dollar could be turned in to the U.S
Treasury and exchanged for 1/20th of an ounce of gold and one German mark could be exchanged for 1/100th of an ounce of gold, an exchange rate of ________ marks to the dollar would stimulate a flow of gold from the United States to Germany. A) 7 B) 6 C) 5 D) 4
Refer to Scenario 14.4. Suppose that a pollution tax is imposed on each unit of a firm's output. The number of workers hired
A) will decrease. B) will increase. C) will not change. D) will change in an indeterminate fashion.
Refer to the following graph.
The maximum amount of good A can be consumed in this economy without trade is
A. F units. B. G units. C. Q units. D. P units.
Which of the following statements is normative?
A. Large budget deficits should be avoided. B. When the Federal Reserve increases the money supply, interest rates decrease. C. High taxes tend to decrease saving. D. A large budget surplus is likely to lower interest rates.