Macroeconomics is the branch of economics that studies economic aggregates for the economy as a whole
a. True
b. False
Indicate whether the statement is true or false
True
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Refer to the figure above. When the real exchange rate is above R*:
A) net exports are zero. B) net exports are positive. C) net exports are negative. D) net exports can be positive or negative depending on the value of R*.
The figure below shows the marginal benefit curves for the two firms in an industry, Firm 1 and Firm 2. Which of the statements below is correct?
A) At $250, the industry-wide marginal benefit from advertising is 4 hours.
B) The industry-wide marginal benefit from 1 hour of advertising is $300.
C) The industry-wide marginal benefit from 1 hour of advertising is $550.
D) None of the above statements is correct.
The purpose of the Earned Income Tax Credit Program (EITC) is to
A. provide in-kind services such as food stamps and public housing to those individuals who have poor credit. B. provide rebates of Social Security taxes to low-income workers. C. encourage low- and moderate-income workers to take second jobs to increase their income. D. give tax credits to low-income individuals who do volunteer work in their communities.
Ramey found that a deficit-financed temporary increase in government purchases has a multiplier in the range of
A. 0.8 to 1.5. B. 0.0 to 0.2. C. 0.2 to 0.8. D. 1.5 to 2.2.