The MFC can be calculated by the
A) change in total wages/change in labor.
B) total wages/total labor.
C) change in labor/change in total wages.
D) total wages/change in labor.
Answer: A
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When there is a recessionary gap, inflation will ________, in response to which the Federal Reserve will ________ real interest rates, and output will ________.
A. decline; lower; decline B. increase; raise; decline C. decline; lower; expand D. decline; raise; decline
Refer to Table 2-17. Which of the following statements is true?
A) Lucy has a comparative advantage in making both products. B) James has a comparative advantage in making both products. C) Lucy has a comparative advantage in making tricycles and James in making wagons. D) Lucy has a comparative advantage in making wagons and James in making tricycles.
Which order does the Federal Reserve's plan for implementing monetary policy follow?
A) Tools => Intermediate Targets => Operating Targets => Goals B) Goals => Tools => Intermediate Targets => Operating Targets C) Tools => Operating Targets => Intermediate Targets => Goals D) Tools => Goals => Operating Targets => Intermediate Targets
An increase in the tax rate on dividends, other things equal, is likely to result in a(n):
A) increased demand for bonds due to an increase in the expected return on bonds relative to stocks B) increased supply of bonds due to an increase in the expected return on bonds relative to stocks C) reduced demand for bonds due to a decrease in the expected return on bonds relative to stocks D) reduced demand for bonds due to an increase in the expected return on bonds relative to stocks