Why do the British supply pounds to the dollar-pound market?
a. To buy goods and services from American firms.
b. To buy American assets.
c. To buy stock in American firms on the London stock exchange.
d. Both (a) and (b) are correct.
e. None of the above.
D
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Which of the following countries meets regularly the UN target for the provision of foreign aid (as a percent of GNI)?
(a) Japan. (b) United States. (c) Denmark. (d) France.
Which of the following statements is correct?
A) In the short run, if a firm chooses to produce no output (i.e., shut down) its total costs of production will equal its total fixed costs. B) If a firm decides to shut down, its short-run total costs will equal 0. C) As a firm increases output in the short run, the change in total costs is equal to the change in total variable costs. D) A firm minimizes its total costs of production when average variable cost is minimized.
To determine horizontal equity, two taxpayers with
A. The same gross incomes should be compared for their effective tax rates. B. The same taxable incomes should be compared for their effective tax rates. C. Different gross incomes should be compared for their effective tax rates. D. Different taxable incomes should be compared for their nominal tax rates.
Which of the following would shift the short-run Phillips curve to the right?
a. an negative supply shock b. an increase in inflationary expectations c. a decrease in inflationary expectations d. either (a) or (b)