What is meant by an objective?
a) A policy
b) A way of reaching a target
c) A target
d) A strategy
Answer: c) A target
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According to purchasing power parity, which of the following is FALSE about an overvalued dollar compared to the Japanese yen?
A) U.S. merchants would be motivated to import more Japanese goods. B) Japanese merchants would tend to export more to the United States. C) Prices in the United States would tend to fall. D) Over the long term, the exchange rate would fall. E) Prices in Japan would tend to rise.
In the aggregate production function Y = A , real business cycle theory treats ________ as the key independent variable
A) potential output B) productivity C) the capital stock D) the labor input
By 1916, there were 340,000 corporations in the U.S. The growth in the number of corporations was partly due to
a. increasing numbers of urban dwellers. b. the development of formal markets for stocks and bonds. c. the acceptance by most states of the doctrine of limited liability. d. mass production which led to lower per-unit costs for output. e. All of the above.
The more inelastic the demand for a product, the larger the share of the tax that will be paid by consumers
a. True b. False Indicate whether the statement is true or false