If the economy has a natural unemployment rate of 4 percent and potential GDP of $5 trillion, what will be real GDP according to Okun's Law if the unemployment rate rises to 5 percent?
What will be an ideal response?
Real GDP is $4.9 trillion.
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Suppose the current account shows debits of $5.3 billion and credits of $4.7 billion. The current account balance is ________, and the financial account balance is ________
A) +$0.6 billion; -$0.6 billion B) +$0.6 billion; +$0.6 billion C) -$0.6 billion; -$0.6 billion D) -$0.6 billion; +$0.6 billion
Which of the following Fed actions will increase the money supply?
A) open market purchases of Treasury notes B) an increase in the required reserve ratio C) an increase in the discount rate D) all of the above E) none of the above
Which statement concerning monopolistic competition is false?
A. In the long run P = AC > MC. B. Firms may experience positive economic profits in the long run. C. Firms may experience losses in the short run. D. Firms differentiate their products, but the products are relatively substitutable.
Number of FigsVCMCAVCFCTCATC0???100??19090????2?????1353??80???4????400?
Table 5.4 presents the cost schedule for David's Figs. If David produces four figs, David's average total costs are:
A. $60. B. $75. C. $100. D. $400.