The growth rate of real GDP in Astoria is 7.5%. Assume the growth rate of velocity is constant at a rate of 5%
If Astoria wishes to decrease the inflation rate from the annual rate of 5.99% to a target rate of 4.5% and maintain its current growth rate of real GDP, what will the growth rate of the money supply need to be?
A) 6.49%.
B) 7%.
C) 8%.
D) 8.49%.
B
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Pamela's bakery produces 500 loaves of bread in a given year. Pamela pays $100 for flour and yeast, pays $600 in wages, pays $50 in interest on an existing loan, and pays $100 in taxes to the government
One of Pamela's bread slicing machines, which cost $75 each, wears out over the course of the year and must be scrapped. Pamela's profit for the year equals $75. Pamela's bread, therefore, sells for A) $0.50 per loaf. B) $1.00 per loaf. C) $2.00 per loaf. D) cannot tell, insufficient information
A firm's marginal revenue product of labor curve is also
A) its labor demand curve. B) its marginal cost curve. C) its total revenue line. D) its long-run input cost function.
Although growth rates across countries vary some, rankings of countries by income remain pretty much the same over time
a. True b. False Indicate whether the statement is true or false
Refer to the above production possibilities curves. Curve (a) is the current curve for the economy. Given production possibilities curve (a), point N suggests that the economy is:
A. using its available resources inefficiently. B. attaining full employment but not full production. C. attaining both full employment and full production. D. attaining full production but not full employment.