Nearly every society desires to achieve the macroeconomic goals of high employment, a stable price level, and high economic growth
a. True
b. False
Indicate whether the statement is true or false
True
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The idea that contact with others with high levels of human capital increases ones own human capital is called human capital
A) contagion. B) externality. C) transference. D) convergence.
Consumer equilibrium occurs where the budget line is tangent to the:
a. lowest possible indifference curve. b. highest possible indifference curve. c. utility maximizing indifference curve. d. utility equalization indifference curve.
Differentiate between consumer's surplus and producer's surplus. For a rational consumer, consumer's surplus will never be a negative number. Why?
Assume that the central bank purchases government securities in the open market. If the nation has highly mobile international capital markets and a flexible exchange rate system, what happens to the GDP Price Index and current international transactions in the context of the Three-Sector-Model?
a. The GDP Price Index falls, and current international transactions become more negative (or less positive). b. The GDP Price Index and current international transactions remain the same. c. The GDP Price Index rises, and current international transactions remain the same. d. There is not enough information to determine what happens to these two macroeconomic variables. e. The GDP Price Index rises, and current international transactions become more positive (or less negative).