Holding everything else constant, if the nominal interest rate decreases, the interest paid on the debt will ________ the debt-to-GDP ratio, and nominal GDP growth will ________ the debt-to-GDP ratio
A) increases; increases
B) increases; decreases
C) decreases; increases
D) decreases; decreases
D
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When the price of, say, a package of rice changes, what must the BLS do next?
A) immediately incorporate the new price into the CPI B) determine if the new price is consistent with other price changes for the period C) determine if the size, quality, weight, or packing of the rice has changed and adjust the price accordingly D) ignore the price change E) immediately incorporate the new price into the CPI only if the price has fallen
An art museum raises its admission price, and ends up with a decrease in its total revenue. How could you explain this situation to the museum director?
What will be an ideal response?
Hotspur Incorporated, a manufacturer of microwaves, is a price taker in both the input and output markets. To maximize its profit, Hotspur will hire labor up to the point where
A) the marginal revenue product of labor equals the wage rate. B) the marginal revenue product of labor equals the output price. C) the marginal product of labor is no longer positive. D) all economies of scale have been exhausted.
According to the ____ view, a nation's wealth consists of the amount of gold or other monies at its command
a. Keynesian b. free trade c. mercantilist d. monetarist