Which of the following tools is used to compare the income per capita across countries?
A) Purchasing power parity B) The headcount index
C) The GDP deflator D) Production possibilities frontier
A
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Efficiency is best understood as a relationship between
A) ends and means. B) energy created and energy destroyed. C) energy output and energy input. D) pleasure and pain.
What are the effects of an expansionary monetary policy on interest rates and output in an open economy with fixed exchange rates?
What will be an ideal response?
Sticky prices are a direct result of the kinked demand curve.
Answer the following statement true (T) or false (F)
Assume an economy is in equilibrium at an output level of $1,500 billion. If government spending increases by $200 billion, then at the output level of $1,500 billion, there is
A. an unplanned rise in inventories. B. an unplanned inventory change of zero. C. an unplanned fall in inventories. D. either an unplanned increase or decrease in inventories depending on the value of the MPC.