The distinction between productivity levels and productivity growth rates is theoretical, and has no practical application
a. True
b. False
Indicate whether the statement is true or false
False
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A country will export wheat if, with no international trade, ______
A. it produces a surplus of wheat B. its opportunity cost of producing wheat is below the world price C. its domestic price of wheat exceeds the world price D. other countries have a shortage of wheat
The Japanese currency is called the
A) DM. B) Yen. C) Euro. D) Dollar. E) Pound.
Keeping landing fees low at airports during the “peak” hours
A. perpetuates congestion during those hours. B. is politically unpopular. C. contributes to efficient allocation of airport facilities. D. would lessen the problem of delayed flight landings.
Refer to the diagram. Point b on short-run Phillips Curve PC 1 represents a rate of:
A. inflation below the natural rate.
B. inflation above the natural rate.
C. unemployment above the natural rate.
D. unemployment below the natural rate.