Over the last hundred years,
A) movements in output due to recessions and recoveries dominate the movement caused by long-run growth.
B) output has decreased in as many years as it has increased.
C) U.S. output has approximately doubled.
D) all of the above
E) none of the above
E
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According to the policy trilemma hypothesis, of the three goals generally pursued by policymakers in an open economy,
A) only one of the goals is possible to achieve at any one time. B) it is possible for a country to achieve two of the goals at the same time, but not all three. C) it is possible for a country to achieve all three goals at the same time in the short run, but not in the long run. D) it is only possible for a country to achieve all three goals at the same time in the long run.
The General Agreement on ___________ and Trade (GATT) was established to provide a forum in which nations could come together to negotiate reductions in tariffs and other barriers to trade.
a. Travel b. Taxes c. Tariffs d. Transfers
Assume that the expectation of a recession next year causes business investments and household consumption to fall, as well as the financing to support it. If the nation has low mobility international capital markets and a fixed exchange rate system, what happens to the real risk-free interest rate and net nonreserve international borrowing/investing in the context of the Three-Sector-Model?
a. The real risk-free interest rate rises and net nonreserve international borrowing/investing becomes more positive (or less negative). b. The real risk-free interest rate falls and net nonreserve international borrowing/investing becomes more negative (or less positive). c. The real risk-free interest rate rises and net nonreserve international borrowing/investing becomes more negative (or less positive). d. The real risk-free interest rate and net nonreserve international borrowing/investing remain the same. e. There is not enough information to determine what happens to these two macroeconomic variables.
Kristi and Rebecca sell lemonade on the corner. It costs them 7 cents to make each cup. On a certain day, they sell 40 cups. Their producer surplus for that day amounts to $19.20 . Kristi & Rebecca sold each cup for
a. 31 cents. b. 38 cents. c. 45 cents. d. 55 cents.