In which year was the link with Sterling finally broken?
(a) 1922;
(b) 1923;
(c) 1979;
(d) 2002.
Answer: (d) 2002.
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Use the following table to answer the next question. All figures in the table below are in billions of dollars. RGDPAggregate Expenditures (Closed Economy)ExportsImports$400$440$50$60450480506050052050605505605060600600506065064050607006805060If exports should decrease by $20 billion at each level of real GDP, other factors constant, then the equilibrium real GDP for the economy will be
A. $500 billion. B. $450 billion. C. $550 billion. D. $650 billion.
The demands for labor and other input factors are called
A) derived demands, because the demand for these inputs depends on the demand for goods and services they are employed to produce. B) developed demands, because the demand for these inputs is developed from an analysis of the costs of advertising products. C) indirect demands, because the demand for these inputs is indirectly related to the costs of advertising products. D) reverse demands, because the demand for these inputs varies inversely with the demand for goods and services they are employed to produce.
If a sizable number of workers were switched from full-time to half-time employment, then the official unemployment rate would:
a. rise. b. fall. c. remain unchanged. d. react unpredictably.
Consider the data in Table 9.6. If each firm is currently generating 100 gallons of wastewater per day, Firm A would need to be paid at least ________ from Firm B to reduce wastewater production to 0 gallons per day.
A. $12 B. $10 C. $7 D. $5