Abstract economic theory can be used by academicians but not by politicians or business people.
Answer the following statement true (T) or false (F)
False
You might also like to view...
In 2001, Pablo earned $200 per week at his job. In 2011, Pablo earned $240 per week. If the CPI in 2001 was 100 and the CPI in 2011 was 152, then
A) Pablo was better off in 2011 because his weekly wage was higher. B) the 2001 wage measured in 2011 dollars is $157.89. C) the 2011 wage measured in 2001 dollars is $157.89. D) the 2001 wage measured in 2011 dollars is $131.58. E) the 2001 wage measured in 2011 dollars is $100.
The price of a Treasury bond futures contract is set
A) by the federal government. B) by the Chicago Board of Trade. C) by the Federal Reserve. D) as a result of bidding and offering by market participants.
Surgeons earn more than janitors because: a. of the negative correlation between level of education and productivity
b. of the inverse relationship between wages and productivity. c. the accumulation of human capital leads to an improvement in productivity. d. of the negative relation between productivity and the amount of physical capital. e. surgeons spend more time at work than janitors.
In Econland autonomous consumption equals 700, the marginal propensity to consume equals 0.80, net taxes are fixed at 50, planned investment is fixed at 100, government purchases are fixed at 100, and net exports are fixed at 40. Planned aggregate expenditure equals:
A. 990 + 0.80Y. B. 990 + 0.20Y. C. 900 + 0.80Y. D. 940 + 0.80Y.