The real exchange rate generally has ________ relationship with aggregate expenditure.
A. a negative
B. no
C. a positive
D. a constant
Answer: A
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Willingness to accept is:
A) always lower than the marginal cost of production. B) always higher than the marginal cost of production. C) the lowest price that a producer is willing to receive to sell an extra unit of a good. D) the highest price that a producer is willing to receive to sell an extra unit of a good.
In the Solow model, if f(k) = 2k0.5, s = 0.25, n = 0.1, and d = 0.4, what is the value of k at equilibrium?
A) 1 B) 2 C) 3 D) 4
As the wage rate rises, other things constant, perfectly competitive firms will employ
A) more workers. B) less capital. C) the same number of workers. D) fewer workers.
In 2011, the average American paid approximately how much to the federal government in taxes?
a. $2,000 b. $2,500 c. $8,000 d. $10,500