Which of the following relationships is likely to exhibit negative correlation?
A) The relationship between inflation in the U.S. and traffic congestion in China
B) The relationship between amount saved with a bank and the interest earned
C) The relationship between the amount of precipitation in a year and the number of umbrellas sold
D) The relationship between level of professional training and unemployment
D
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The theory of portfolio choice indicates that factors affecting the demand for money include
A) income. B) nominal interest rate. C) liquidity of other assets. D) all the above.
In long-run equilibrium in a monopolistically competitive industry, a firm will
A) always earn an economic profit. B) produce an output rate at which P = MC. C) produce at a point to the left of the minimum point on its average total cost curve. D) have a perfectly elastic demand curve.
The Natural rate of unemployment equals
a. The sum of the frictional and structural unemployment rates. b. The sum of the frictional and cyclical unemployment rates. c. The sum of the structural and cyclical unemployment rates. d. None of the above.
The expected effects of monetary expansion are
A. lower real interest rates. B. exchange rate depreciation. C. higher inflation. D. All of these responses are correct.