The long run in macroeconomics is a period in which wages and prices are flexible and there is full market adjustment.
a. true
b. false
Ans: a. true
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If Japanese cars surge in popularity in the United States, this event most likely will cause the Japanese yen to ________ and the U.S. dollar to ________.
A. depreciate; depreciate B. appreciate; depreciate C. depreciate; appreciate D. appreciate; appreciate
Consider two investors: one is risk-neutral and the other is risk-averse. How do they each assess a risk premium?
What will be an ideal response?
Does the term "mandatory spending" mean that spending must go on forever?
A. Yes, once appropriated, spending is indefinite. B. No, once appropriated, spending is for the life of the program only or until it changes. C. Yes, the laws which authorized this spending cannot be changed. D. Yes, Congress has no right to change these spending programs.
The accompanying table below shows how total donations, average donations, total labor costs and average labor costs vary depending on the number of employees State U hires for its fundraising activities. Number of EmployeesTotal DonationsAverage DonationsTotal Labor CostsAverage Labor Costs1$30,000 $8,0002$42,426 $17,000 3 $17,321$27,000 4$60,000 $9,5005 $13,416$50,000 The total labor cost with 4 employees is:
A. $43,121. B. $38,000. C. $22,000. D. $21,500.