If an economy's GDP falls, then it must be the case that the economy's
a. income falls and saving rises.
b. income and saving both fall.
c. income falls and expenditure rises.
d. income and expenditure both fall.
d
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Joe wants to achieve the highest position possible with the XYZ Co During the interview, he tells them he is capable of performing many difficult tasks. The company feels there is a 10% chance he is lying
Given the payoff matrix in the above figure, what job level will the company offer to Joe? Why?
You put money in the bank. The increase in the dollar value of your savings
a. and the change in the number of goods you can buy with your savings are both nominal variables. b. and the change in the number of goods you can buy with your savings are both real variables. c. is a nominal variable, but the change in the number of goods you can buy with your savings is a real variable. d. is a real variable, but the change in the number of goods you buy with your savings is a nominal variable.
How would the graph change if the price ceiling was removed?
a. P2 would move to PC.
b. QD and QS would move to Q2.
c. PC would move to E1.
d. Q2 and QD would move to QS.
If a firm that has total revenue of $5 million shuts down, we may conclude that its variable costs are __________.
Fill in the blank(s) with the appropriate word(s).