The Federal Reserve econometric model predicts that a 2 percent increase in the money supply will increase real GDP after one year by
A) 1 percent.
B) 2.5 percent.
C) 2 percent.
D) 10 percent.
A
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The supply curve for labor in a purely competitive market slopes upward because
A. the wage rate paid to workers falls as more are hired. B. marginal resource cost rises as productivity increases. C. the marginal product of labor falls as output increases. D. higher wages must be paid to bid workers away from other opportunities.
The indifference curves in the figure above (I1, I2, and I3 ) reflect Peter's consumption preferences
If Peter consumes 24 slices of pizza and 24 chocolate bars per month, he as satisfied as he would be consuming ________ slices of pizza and ________ chocolate bars per month. A) 48; 12 B) 40; 20 C) 32; 8 D) 16; 16
Refer to Table 14-1. Is there a dominant strategy for Star Connections and if so, what is it?
A) Yes, Star Connections should increase its advertising budget. B) Yes, Star Connections' dominant strategy is to collude with Godrickporter. C) No, its outcome depends on what Godrickporter does. D) Yes, Star Connections should not change its advertising budget.
Refer to Table 18-6. Sasha is a single taxpayer with an income of $60,000. What is his marginal tax rate and what is his average tax rate?
A) marginal tax rate = 17%; average tax rate = 21% B) marginal tax rate = 23%; average tax rate = 38% C) marginal tax rate = 38%; average tax rate = 23% D) marginal tax rate = 38%; average tax rate = 24%