In the United States, exports of goods and services accounted for about what percentage of GDP (total output) in 2011?
A. 6 percent
B. 14 percent
C. 24 percent
D. 42 percent
B. 14 percent
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Starting from long-run equilibrium, an increase in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. lower; higher D. higher; potential
Which Federal Reserve Bank now regularly tracks target levels for the federal funds rate predicted by a basic Taylor-rule equation?
A) Boston B) Chicago C) New York D) St. Louis
When perfectly competitive firms in an industry are earning positive economic profits, a. we would expect entry into the industry
b. we would expect stability in the industry, since it is in long run equilibrium. c. we would expect exit from the industry. d. we do not know whether there would tend to be entry, exit, or stability in the industry.
Which of the following are examples of nonwage determinants of labor supply?
a. current wealth status b. environment of the workplace c. status of the position d. all of the above are examples of nonwage determinants of labor supply