The Purchasing Managers' Index is __________ indicator
A) a leading
B) a coincident
C) a lagging
D) an inconsistent
B
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If finding the last stamp to complete your collection makes you happier than finding the first, then:
a. marginal utility is zero. b. marginal utility is negative. c. total utility is decreasing. d. total utility is constant. e. marginal utility is not diminishing.
If the elasticity of supply of a resource is greater than zero but less than infinity, its income will comprise of:
a. only economic rent. b. only transfer earnings. c. salaries and traveling allowances. d. both economic rent and transfer earnings. e. salaries, traveling allowances, as well as other incentives.
Real business cycle theory suggests that changes in
A. technology and resources affect productivity, and thus the long-run growth of aggregate supply. B. monetary policy is the single most important cause of macroeconomic instability. C. the velocity of money is gradual and predictable and thus able to accommodate the long-run changes in nominal GDP. D. investment spending will have a direct and significant effect on aggregate demand.
Assume the exchange rate is allowed to fluctuate freely. Using the IS-LM-IP model, graphically illustrate and explain what effect monetary expansion will have on the domestic economy. In your graphs, clearly label all curves and equilibria
What will be an ideal response?