Fluctuations in the foreign ________________ rate can affect an economy’s ability to repay its outstanding international debt in the short run.
a. unemployment
b. exchange
c. production
d. return
b. exchange
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Fixed costs
A) do not vary with output B) vary with output C) do not vary with price D) vary with price
The neoclassical perspective on macroeconomics holds that the economy will fluctuate around its potential GDP and its natural rate of __________________ in the long run.
a. unemployment b. production c. supply d. demand
No matter what economy we consider, the components of aggregate expenditure include consumption and
a. saving b. intended investment c. the income multiplier d. imports e. MPS
According to public choice theorists, the behavior of people employed in the public sector is likely to differ from the behavior of people employed in the private sector because
A) the two sectors are likely to attract people of different psychological profiles. B) government employees are likely to exhibit more civic responsibility than private-sector employees. C) the same objective to maximize one's net benefit will produce different behavior in different institutional settings. D) all of the above E) a and b