The rate of inflation in Vroomka, a small island country, was 12.3 percent last year. The value of the GDP deflator of the country last year was _____
a. 100.23
b. 123.00
c. 112.30
d. 87.70
c
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If you travel to Mexico you will often see currency exchange businesses along the way as you approach the border
Even though each of these businesses is essentially "selling" the same product (i.e. Mexican pesos) how is it that some of them are able to charge more for the peso than others?
Suppose the local government will determine if a contracting firm will be given a job based on rolling a fair die. If a four or above appears after the die has been rolled, the contracting firm will be given the job. The managers of the contracting firm will use ________ probabilities to estimate the likelihood that their firm will be given the job.
A) unknown B) subjective C) objective D) relative
An increase in unemployment insurance benefits will:
A. increase the demand for labor. B. decrease job search efforts of unemployed workers. C. increase job search efforts of unemployed workers. D. decrease the demand for labor.
Human capital contributes to growth because it helps workers in the economy:
A. be more productive with their time. B. work smarter. C. produce more with the same amount of physical capital. D. All of these are true.