One of the reasons we know that international labor mobility has been higher at other times is because
A) the percent of our population that was foreign born was higher.
B) wages were lower.
C) labor was important in agriculture.
D) the population was younger.
A
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When a person's income increases:
A. the individual's budget constraint shifts straight out, maintaining the same slope. B. the individual's budget constraint shifts straight in, maintaining the same slope. C. the individual's budget constraint rotates out and becomes flatter. D. the individual's budget constraint rotates in and becomes steeper.
Transfer payments are not included in GDP because
A) their market value cannot be accurately determined. B) they do not generate additional income. C) they are not purchases of goods or services. D) their value is included in government expenditure.
A bank's assets consist of $1,000,000 in total reserves, $2,100,000 in loans, and a building worth $1,200,000 . Its liabilities and capital consist of $3,000,000 in demand deposits and $1,300,000 in capital. If the bank is required to keep reserves equal to one-third of deposits, what is the level of the bank's excess reserves? How much money could the excess reserves be used to create in the
banking system as a result? a. zero; zero b. $300,000; $300,000 c. $300,000; $900,000 d. $700,000; $2,100,000
There is very little disagreement when it comes to macroeconomic theory.
Answer the following statement true (T) or false (F)