Under a fixed exchange rate system, a government is at risk of running out of foreign currency reserves when the country's imports exceed its exports
a. True
b. False
Indicate whether the statement is true or false
True
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The average benefit of n units of an activity is the:
A. extra benefit from carrying out one additional unit of the activity. B. n divided by the total benefit of n units. C. n times the total benefit of n units. D. total benefit of n units divided by n.
Hughes and Cain (2011) argue that the U.S. regards highly hardworking people and possesses a strong disdain for idle people, especially the rich. These views fuel animosity toward labor unions because unions
(a) threaten the private rights of business owners to utilize profits in those fashions they deem desirable. (b) force business owners to divert profits to conduct research and develop products. (c) prevent the emergence of a leisure class in the U.S. (d) all of the above.
When real GDP declines in a particular year, nominal GDP: a. will decline at a faster rate than real GDP if there is inflation. b. will decline at a slower rate than real GDP if there is inflation. c. may increase or decrease if there is inflation
d. will increase if there is deflation.
When the price curve is a horizontal line, it always coincides with all of the following except
a. MR b. TR/Q c. AR d. change in total revenue divided by change in output e. TC