A professor of economics gets a $100 a month raise. She figures that even with her new monthly salary she will be unable to buy as many goods and services as she could 12 months ago
a. Her real and nominal salary have risen.
b. Her real and nominal salary have fallen.
c. Her real salary has risen and her nominal salary has fallen.
d. Her real salary has fallen and her nominal salary has risen.
D
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Which of the following is false? a. An increase in labor productivity will shift the demand curve for labor to the right
b. An increase in wage will lead to an increase in the supply of labor. c. A decrease in the nonwage income of workers would shift the labor supply curve to the right. d. If job amenities deteriorate, it would lead to a reduction, or leftward shift, in the labor supply curve.
According to purchasing-power parity, if two countries have the same price level because they have the same prices for all goods and services, then which of the following would equal 1?
a. the real exchange rate, but not the nominal exchange rate b. the nominal exchange rate, but not the real exchange rate c. the real exchange rate and the nominal exchange rate d. neither the real exchange rate nor the nominal exchange rate
Direct controls
A. rely on the criminal justice system for enforcement. B. will be successful if a penalty is put in place. C. can easily be enforced. D. is a comparable method to emissions taxes.
In 1995, the United States threatened to impose 100 percent tariffs on ________ from ________ if it didn't loosen its protectionist policies.
A. luxury cars; Japan B. auto parts; Japan C. brandies; France D. light trucks; Germany