Final consumer demand for poultry in the US increases (shifts to the right) if
a) consumer income decreases
b) the price of chicken decreases
c) the price of beef increases
d) the price of pork decreases
c) the price of beef increases
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An economic policy has a decent chance of working as intended, if ________
A) the policy causes no change in expectations B) if mistaken expectations are not very costly C) the rationale behind the policy is well-understood by the public D) expectations are formed in the same way by both the public and the policymakers
Assume that foreign capital flows into a nation rise due to expected increases in stock market appreciation. If the nation has highly mobile international capital markets and a fixed exchange rate system, what happens to the quantity of real loanable funds per time period and the nominal value of the domestic currency in the context of the Three-Sector-Model? a. Real GDP rises and nominal value
of the domestic currency falls. b. Real GDP falls and nominal value of the domestic currency remains the same. c. Real GDP rises and nominal value of the domestic currency remains the same. d. Real GDP rises and nominal value of the domestic currency rises. e. There is not enough information to determine what happens to these two macroeconomic variables.
Many countries use a proportional-representation system, which means that:
A. everyone's preference gets represented proportionately with everyone else's. B. if a party gains a certain percentage of the popular vote, then they are awarded the same percentage of representative seats in the government. C. smaller parties can carve out niches and still have political influence. D. All of these are true.
Suppose you are a manager of a factory. You purchase five (5) new machines at one million dollars each. If you can resell two of the machines for $500,000 and three of the machines for $200,000, what are the sunk costs of purchasing the machines?
A. $1.6 million B. $3.4 million C. $5 million D. $500,000