Each point on the Phillips curve represents a combination of the:
a. prime rate and the savings rate.
b. savings rate and the unemployment rate.
c. inflation rate and the unemployment rate.
d. consumption rate and the inflation rate.
c
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Consider a large open economy. What are the effects, in equilibrium, on the world real interest rate, domestic national saving, domestic investment, the domestic current account balance, foreign national saving, foreign investment, and the foreign
current account balance in each of the following scenarios? Show a diagram to illustrate your results. (a) current income rises in the foreign country (b) the future marginal product of capital rises in the domestic country (c) wealth rises in the foreign country
An affordable consumption bundle is an interior choice if:
A. it lies below the budget line. B. for each good, there are affordable bundles containing a little bit more of that good and a little bit less of it. C. for each good, there are no other affordable bundles containing a little bit more of that good and a little bit less of it. D. it exhausts the consumer's income.
Use the figure below to answer the following question.
What is the amount of government revenue after the government imposes the excise tax on the market?
A. $540 B. $162 C. $486 D. $144
You are the manager of a monopoly that faces a demand curve described by P = 85 ? 5Q. Your costs are C = 20 + 5Q. The profit-maximizing price is:
A. 60. B. 55. C. 45. D. 50.