The table gives information about the economy of Japan. The economic growth rate in 1997 is ________ percent
A) 8.0
B) 0.8
C) 0.08
D) 0.008
E) 4
B
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The real wage will rise if the nominal wage
A. increases more rapidly than the prices of the goods and services it buys. B. falls at the same rate as the general price level. C. falls more rapidly than the prices of the goods and services it buys. D. increases at the same rate as labor productivity.
The supply curve shifts rightward from S0 to S2 when the U.S. interest rate ________ and foreign interest rates are unchanged. The supply curve shifts rightward from S0 to S2 when the expected future exchange rate ________
A) falls; falls B) rises; rises C) falls; rises D) rises; falls E) None of the above answers is correct because the factors mentioned lead to movements along the demand curve and not to shifts of the demand curve.
Externalities
A) are not reflected in market prices, so they can be a source of economic inefficiency. B) do become reflected in market prices, so they can be a source of economic inefficiency. C) are not reflected in market prices, so they do not adversely affect economic efficiency. D) do become reflected in market prices, so they do not adversely affect economic efficiency. E) may or may not become reflected in market prices, but do not have an impact on economic efficiency in either event.
Rent controls often have adverse effects, including
A) too much housing in a community. B) deterioration in the quality of existing rental units. C) too much construction of new rental units in the community. D) income transfers from the poor to landlords.