Which of the following macroeconomic variables is procyclical and coincident with the business cycle?
A) Residential investment
B) Nominal interest rates
C) Industrial production
D) Unemployment
C
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Refer to Figure 19-7. If the Indian government pegs its currency to the dollar at a value above $.02/rupee, we would say the currency is
A) parity valued. B) undervalued. C) overvalued. D) equilibrium valued.
According to the total revenue rule, if the coefficient of price elasticity of demand is less than 1 and if price goes
a. up, total revenue stays the same. b. down, total revenue goes up. c. down, total revenue goes down. d. up, total revenue goes down.
A firm's production function is the relationship between:
A) the inputs employed by the firm and the resulting costs of production. B) the factors of production and the resulting outputs of the production process. C) the demand for a firm's output and the quantity it is able to produce with available resources. D) the firm's production costs and the amount of revenue it receives from the sale of its output.
Social Security, like other governmental programs, alters individuals' decisions to save, consume and invest privately for the present as well as the future
Indicate whether the statement is true or false