Productivity is defined as:
a. output per unit of capital.
b. output per labor hour.
c. output divided by the price level.
d. the percentage change in total annual output.
b. output per labor hour.
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If you won the state lottery and were guaranteed a monthly income of $5000 for life then ________ would argue that your ________ income has increased
A) Friedman; permanent B) Friedman; transitory C) Modigliani; transitory D) Modigliani; permanent
Which of the following statements about demand and price elasticity of demand is? TRUE?
A. Since the demand curve has a negative? slope, the price elasticity of demand is negative. B. Since the demand curve has a negative? slope, the price elasticity of demand is positive. C. Since the demand curve has a positive? slope, the price elasticity of demand is negative. D. Since the demand curve has a positive? slope, the price elasticity of demand is positive.
When the Federal Reserve conducts open market transactions, it
A) buys or sells corporate bonds in the bond market. B) issues government bonds to raise funds for the government. C) makes credit available to financial institutions in crises D) buys or sells previously issued government bonds.
Refer to the information provided in Figure 24.1 below to answer the question(s) that follow.
Figure 24.1Refer to Figure 24.1. At equilibrium, injections
A. can be greater than $1,000 billion. B. equal $1,500 billion. C. equal $2,000 billion. D. equal leakages.