Special Drawing Rights are issued by the
a. International Monetary Fund.
b. Bretton Woods Organization.
c. General Agreement on Tariffs and Trade.
d. World Bank.
a. International Monetary Fund.
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For a perfectly competitive firm, the value of marginal product diminishes as employment increases because the
A) price falls as the firm's production increases. B) marginal revenue decreases as the firm's production increases. C) marginal product decreases as the firm's production increases. D) None of the above answers is correct.
The Laffer curve is based on the idea that if the tax rate is sufficiently high, then raising it even more will actually reduce total tax revenues. According to Laffer, this happens because the growing tax rates reduce economic activity at an even faster rate
a. True b. False Indicate whether the statement is true or false
The idea that no one knows for certain the shape of the aggregate supply curve contributes to
A. Design problems. B. Goal conflicts. C. Measurement problems. D. Inventory problems.
In the equation of exchange, velocity of money increases when
A. Y increases without any changes in P and M. B. Y falls without any changes in P. C. M increases without any changes in P and Y. D. P falls without any changes in Y and M.