Real GDP measures the ________ of production.
A. physical volume
B. current dollar value
C. change in the volume
D. current market value
Answer: A
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Other things the same, when the interest rate rises, the present value of future revenues from investment projects
a. rises, so investment spending rises. b. falls, so investment spending rises. c. rises, so investment spending falls. d. falls, so investment spending falls.
In a free market economy, current consumption, saving and investment decisions
A) shape the future course of the national economy. B) are necessarily controlled by big businesses. C) require protection from foreign forces if individuals desire wealth accumulation. D) are controlled largely by the government.
In the early 2000s, Ecuador replaced its currency, the sucre, with the U.S. dollar in order to solve its inflation problem. As long as Ecuador maintains the U.S. dollar as its official currency, what will happen to the monetary policy of Ecuador?
A. It effectively will cease to exist. B. It will become more powerful but less flexible. C. It will become less powerful but more flexible. D. It will become both more powerful and more flexible.
Major macroeconomic questions include all of the following EXCEPT:
A. Why does inflation vary over time and across countries? B. What causes differences in wages between men and women? C. What causes economic growth? D. What are the causes of unemployment?