Which of the following is true?
A. Most of the export and import trade of the United States is with less developed nations
B. The United States is fully dependent on other nations for metals and chemicals
C. Exports plus imports as a percentage of GDP is more than 50% for the United States
D. The United States is almost entirely dependent on imports for bananas and coffee
D. The United States is almost entirely dependent on imports for bananas and coffee
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If the Federal Reserve wants to prevent a recession, it should ________.
A. decrease the money supply to raise interest rates and lower aggregate demand B. decrease the money supply to lower interest rates and increase aggregate demand C. increase the money supply to raise interest rates and lower aggregate demand D. increase the money supply to lower interest rates and raise aggregate demand
If Microsoft is a monopoly and currently charges prices where its demand is elastic, then Microsoft's marginal revenue is
A) negative. B) positive. C) zero. D) minimized. E) undefined.
The rate of inflation tends to remain constant when
A) the unemployment rate is above the NAIRU. B) the unemployment rate equals the NAIRU. C) the unemployment rate is below the NAIRU. D) the unemployment rate increases faster than the NAIRU increases.
The egalitarian principle of income refers to
A) each person being paid differently. B) each person receiving the same income. C) each person receiving tax breaks. D) each person working the same number of hours.