The spot exchange rate is the current price for an exchange that will take place a month or more in the future.
Answer the following statement true (T) or false (F)
False
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If technological change is "neutral," then
A) output per worker declines, output per unit of capital increases. B) "effective labor input" increases, output per unit of capital declines. C) output per worker increases, output per unit of capital is constant. D) Both output per worker and output per unit of capital change.
The term strategy in terms of game theory refers to
a. the relationship between price and marginal cost b. the relationship between individual firm demand curves and the market demand curve c. each firm's game plan in making decisions d. the interrelationship between price and marginal revenue e. the tendency for collusive firms to generate normal profits
Which of the following is true?
a. Inflation and unemployment rates can both increase in the short run in response to positive supply shocks. b. Inflation and unemployment rates can both decrease in the short run in response to reduced aggregate demand. c. Inflation and unemployment rates can both decrease in the short run in response to negative supply shocks. d. None of the above.
Economists usually use the term "recession" to refer to: a. any slowdown in the growth of real GDP
b. zero real GDP growth. c. two or more consecutive quarters of declining real GDP. d. a reduction in nominal GDP lasting more than six months.