The world's number one economic power, in terms of total output, is
A. the United States.
B. Germany.
C. China.
D. Japan.
A. the United States.
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The Federal Reserve's two main ________ are the money supply and the interest rate
A) fiscal tools B) fiscal policy targets C) policy tools D) monetary policy targets
Suppose the Fed has just learned that some foreign economies are headed for recession, which will reduce U.S. exports. This is an economic shock that shifts the IS curve down
What would you do in response to the shock if you want to keep the economy at full-employment equilibrium under each of the following cases? (a) You use the classical (RBC) model. (b) You use the Keynesian (efficiency wage) model. (c) You use the extended classical model with misperceptions. In each case, show the IS—LM—FE diagram associated with your answer.
Which of the following statements is true regarding profit-maximizing markup for a Cournot oligopoly with N identical firms?
A. P[NEM/(1 + NEM)] = MC B. P[N(1 + EM)/NEM] = MC C. P = [NEM/(1 + NEM)]MC D. P = [(1 + NEM)/NEM]MC
When applied to labor markets, the law of supply suggests that:
A. a decrease in the wages earned by nurses will cause the quantity of nurses supplied to increase. B. a decrease in the wages earned by nurses will cause the quantity of nurses demanded to increase. C. an increase in the wages earned by nurses will cause the quantity of nurses supplied to increase. D. an increase in the wages earned by nurses will cause the quantity of nurses demanded to increase.