Which of the following is NOT a measure of productivity?
A. Average advertising
B. Total product
C. Input-output ratio
D. Marginal product
Answer: A
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Projections place world population by 2050 at
(a) between 4 and 6 billion. (b) between 6 and 8 billion. (c) between 8 and 10 billion. (d) between 10 and 12 billion.
If the inflation rate target is 2%, the current inflation rate is 3%, and the output gap is 2%, then according to the Taylor rule, the nominal federal funds rate should be ________ percent
A) 4.5 B) 7 C) 6.5 D) 5.5 E) none of the above
According to the figure shown, Dunkin Donuts:
This figure displays the choices being made by two coffee shops: Starbucks and Dunkin Donuts. Both companies are trying to decide whether or not to expand in an area. The area can handle only one of them expanding, and whoever expands will cause the other to lose some business. If they both expand, the market will be saturated, and neither company will do well. The payoffs are the additional profits (or losses) they will earn. A. should expand, regardless of what Starbucks chooses to do. B. should not expand, regardless of what Starbucks chooses to do. C. has first-mover advantage. D. does not have a dominant strategy.
According to new classical economists, if a decrease in aggregate demand is correctly anticipated, the short-run aggregate supply curve will shift __________ at the same time the AD curve shifts _________ so that there will be no change in Real GDP
A) rightward; rightward B) leftward; rightward C) leftward; rightward D) rightward; leftward E) none of the above