Which of the following is an exogenous variable in the Three-Sector-Model?
a. Real Domestic GDP
b. GDP price index
c. Quantity of currency per time period
d. Open market operations
e. All of the above are exogenous
.D
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Efficiency occurs in a market when
A) the sum of consumer surplus and producer surplus is maximized. B) consumer surplus is equal to producer surplus. C) consumer surplus is less than producer surplus. D) consumer surplus is greater than producer surplus. E) total revenue is maximized.
Which of the following is a true statement about equilibrium in the foreign exchange market?
A) Net exports are zero. B) The expected return on domestic assets is equal to the expected return on foreign assets. C) Foreigners wish to purchase the entire supply of domestic assets. D) The relevant central banks meet regularly to choose the equilibrium exchange rate.
Like the two world wars, the Korean War (1950–53) produced shortages of resources, labor and output due to large-scale foreign military deployments and demands for the production of war-related goods and services
Indicate whether the statement is true or false
If MUa/Pa is greater than MUb/Pb, and the consumer is consuming both goods, the consumer is not maximizing utility. True or false. Explain
What will be an ideal response?