The Danish currency, the krone, is pegged to the euro at a rate of 7.46 kroner (kroner is the plural of krone) to the euro. At the pegged exchange rate, how many euros would be exchanged for one krone?
A) 0.07 B) 0.13 C) 1.76 D) 7.46
B
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National income is calculated by subtracting ____ from GDP
a. depreciation. b. investment and net exports. c. Social Security insurance contributions and transfer payments. d. corporate and personal income taxes.
An unanticipated reduction in the level of prices in the goods and services market, which results in a temporary increase in real wage rates, will
a. increase the natural rate of unemployment. b. reduce the natural rate of unemployment. c. result in an actual rate of unemployment that is less than the natural rate of unemployment. d. result in an actual rate of unemployment that is greater than the natural rate of unemployment.
The theory of efficiency wages asserts that
a. employers set wages based on each employee's productivity. b. employers strive to hold wages below equilibrium levels. c. employers may find it profitable to pay above-equilibrium wages. d. efficient workers actually earn lower wages than those earned by inefficient workers.
In which of the following situations will market clearing price increase and the equilibrium quantity decrease?
A) an increase in demand with no change in supply B) an increase in supply with no change in demand C) a decrease in supply with no change in demand D) a decrease in demand with no change in supply