Which of the following will discourage investment?
a. well-defined property rights
b. monetary instability
c. a low and steady rate of inflation
d. low tax rates
B
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Output per person must be ________ output per worker.
A. equal to B. less than or equal to C. no more than half the size of D. greater than or equal to
If market price is greater than the minimum of AVC but below the minimum of AC, then
A) the firm will shut down. B) revenue covers variable costs and some of the fixed costs and profit is positive. C) revenue covers variable costs and some of the fixed costs, although profit is negative. D) economic profit is zero.
If banks have no excess reserves, and the required reserve ratio is raised, the amount that banks can lend is:
A. reduced and the money supply contracts. B. reduced and the money supply expands. C. reduced and there is no change in the money supply. D. increased and the money supply expands.
Which of the following expressions represents the real exchange rate (?)?
A) E/P. B) EP/P. C) EP. D) EP/P. E) none of the above