Christina Romer argued that
A. measured properly, economic expansions after 1929 were shorter than the official statistics showed.
B. measured properly, GNP before 1929 varied substantially less over time than the official statistics showed.
C. measured properly, GNP after 1929 varied substantially more over time than the official statistics showed.
D. measured properly, economic expansions before 1929 were shorter than the official statistics showed.
Answer: B
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Sophia sits behind Gabriel on an airplane. Gabriel owns the right to recline his seat and values this right at $10 . Sophia values a non-reclined seat in front of her at $40 . Assuming no transaction costs, which of the following represents an efficient solution?
a. Sophia offers Gabriel between $10 and $40 to not recline his seat. Gabriel accepts, and both parties are better off. b. Sophia offers Gabriel between $0 and $10 to not recline his seat. Gabriel accepts, and Sophia is better off. c. Sophia offers Gabriel between $10 and $40 to not recline his seat. Gabriel declines because he has the right to recline his seat. d. Gabriel offers Sophia between $10 and $40 to recline his seat. Sophia accepts, and both parties are better off.
Suppose the price of a natural resource like oil falls. What will be the effect on SRAS curve?
A. Movement to the left along the AS curve B. AS curve will shift to the left C. Movement to the right along the AS curve D. AS curve will shift to the right
The expression, IM, represents the value of imports in terms of
A) foreign currency. B) domestic currency. C) foreign goods. D) domestic goods. E) exports.
Assume that foreign capital flows from a nation increase due to political uncertainly and increased risk. If the nation has highly mobile international capital markets and a fixed exchange rate system, what happens to the real risk-free interest rate and monetary base in the context of the Three-Sector-Model? a. The real risk-free interest rate falls and monetary base falls
b. The real risk-free interest rate rises and monetary base falls. c. The real risk-free interest rate and monetary base remain the same. d. There is not enough information to determine what happens to these two macroeconomic variables.