For the labor force to definitely increase,
A. People must turn from being discouraged workers into people actively seeking employment.
B. There must be an increase in immigration.
C. There must be an increase in total population.
D. None of the choices are correct.
Answer: A
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According to the following graphs, at point B,
The price of Y is $15 per unit.
A. the consumer's utility is greater than it is at point A. B. the consumer can exchange one unit of X for one unit of Y and keep income unchanged. C. the marginal rate of substitution of X for Y is greater than it is at point A. D. both a and b E. all of the above
The various studies of the size of the fiscal multiplier by different economists suggest
A) general agreement that the fiscal multiplier value is relatively high. B) general agreement that the fiscal multiplier value has a range between 0.8 and 1.2. C) general agreement that the fiscal multiplier value is zero. D) there is a wide range of opinion on the size of the fiscal multiplier.
Assume the price of cola is $8 per unit and the price of pretzels is $4 per unit.Table 19.3Michael's Utility ScheduleUnits of ColaTU of ColaMU of ColaUnits of PretzelsTU of PretzelsMU of Pretzels14040130302 322 2039624366164112 478 5124 584 Refer to Table 19.3. Suppose Michael has $28 to spend on cola and pretzels. What combination should he purchase in order to maximize his utility?
A. Two colas and three pretzels. B. One cola and five pretzels. C. Three colas and one pretzel. D. Three colas and four pretzels.
Under a "crawling peg" system, a country's exchange rate
A) is fixed except for small, surprise changes. B) changes at a predetermined rate against the dollar or some other major currency. C) can fluctuate within a narrow band. D) can change, but the changes are kept secret from the public. E) is determined by the central bank of another country.