The opportunity cost of a resource
a. includes both explicit and implicit cost
b. includes explicit cost only
c. includes implicit cost only
d. is equal to the market price of the resource
e. is not related to the market price of the resource
A
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In long-run macroeconomic equilibrium, the
A) real wage rate has adjusted so that the economy is on the short-run aggregate supply curve but not on the long-run aggregate supply curve. B) long-run aggregate supply curve has shifted in response to a money wage rate increase so that potential GDP equals real GDP. C) aggregate demand curve adjusts to the point where the long-run aggregate supply curve and the short-run aggregate supply curve intersect. D) None of the above answers is correct.
A direct relationship occurs when
A) the two variables being compared change in opposite directions, or when one goes up the other goes down. B) a change in one of the variables causes a change in the other variable in any direction. C) the two variables being compared change in the same direction, or when one goes up the other also goes up. D) the two variables have no identifiable relationship with each other.
A U.S. citizen buys bonds issued by an automobile manufacturer in Japan. Her expenditures are U.S
a. foreign direct investment that increase U.S. net capital outflow. b. foreign direct investment that decrease U.S. net capital outflow. c. foreign portfolio investment that increase U.S. net capital outflow. d. foreign portfolio investment that decrease U.S. net capital outflow.
If nominal exchange rates do not change, an increase in the U.S. price level relative to the foreign price level represents a real appreciation of the dollar. However, if nominal exchange rates can change, is an increase in U.S. inflation relative to foreign inflation likely to cause appreciation of the dollar in the short run?
What will be an ideal response?