Which of the following assumptions indicates that there is no trade-off between inflation and unemployment?
A) A vertical aggregate demand curve
B) A vertical Phillips Curve
C) Constant velocity
D) Constant money supply growth rate
B
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Refer to Table 16-3. Suppose Julie's marginal cost of providing this service is constant at $7 and she charges $7 per hour. What is her marginal revenue?
A) It is $7 for the first hour and starts increasing thereafter. B) It is constant at $7. C) It coincides with the figures in the table; $12 for the first hour, $10 for the second, $9 for the third, and $8 for the fourth. D) It is $7 for the first hour and starts declining thereafter.
Evidence against market efficiency includes
A) failure of technical analysis to outperform the market. B) the random walk behavior of stock prices. C) the inability of mutual fund managers to consistently beat the market. D) the January effect.
If one country can produce a good with fewer resources than another country, this is called:
a. absolute advantage. b. geographic advantage. c. specialization. d. comparative advantage.
A U.S. firm called EcoWind produces windmills for households to generate electricity. It uses 25,000 recently obtained pesos to buy copper from a mining company in Argentina. As a result of this exchange, by how much, if at all, and in which direction did: A. U.S. net exports change? B. U.S. net capital outflow change?