"To each according to what he or she produces" describes the ________ theory of income determination
A) productivity
B) egalitarian
C) equity
D) needs
A
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An increase in each of the following factors would normally provide a subsequent increase in quantity demanded, except:
a. price of substitute goods b. level of competitor advertising c. consumer income level d. consumer desires for goods and services e. a and b
The Federal Reserve Open Market Committee meets about ____ times a year
a. 8. b. 12. c. 4. d. 2. e. 24.
Moe and Curley have identical skills. Their jobs are identical, except Moe's job provides more on-the-job training experiences than does Curley's job. Who will have the higher observed wage rate?
a. Moe's wage rate will be higher than Curley's. b. Curley's wage rate will be higher than Moe's. c. Moe and Curley will be paid the same wage rate. d. There is insufficient information to determine who will be paid the higher wage.
Assume that the central bank increases the reserve requirement. If the nation has highly mobile international capital markets and a flexible exchange rate system, what happens to the real risk-free interest rate and real GDP in the context of the Three-Sector-Model?
a. The real risk-free interest rate rises, and real GDP remains the same. b. The real risk-free interest rate rises, and real GDP falls. c. The real risk-free interest rate and real GDP remain the same. d. The real risk-free interest rate falls, and real GDP rises. e. There is not enough information to determine what happens to these two macroeconomic variables.