A nation can determine how close it is to the classical range by considering its:
a. Net export position.
b. Capacity utilization index.
c. Exchange rate.
d. All of the above.
.B
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The difference between the nominal rate of interest and the real rate of interest is
A) handling charges. B) government regulatory charges. C) administrative overhead charges. D) the anticipated rate of inflation.
When analyzing a problem, an economist will attempt to
A. minimize the total cost of an action. B. maximize the net benefit of an action, and this occurs where the marginal benefit equals the marginal cost. C. maximize the total benefit of an action. D. maximize the net benefit of an action, and this occurs where the average benefit equals the average cost.
Other things equal, the greater the degree of complementarity between potential immigrants and native-born workers, the:
A. lower the optimal quantity of immigrants. B. lower the marginal benefit of additional immigrants. C. greater the marginal cost of additional immigrants. D. greater the optimal quantity of immigrants.
The marginal propensity to consume (mpc) is the:
A. amount by which disposable income increases when consumption increases by $1. B. percentage by which consumption increases when disposable income increases by 1 percent. C. percentage by which disposable income increases when consumption increases by 1 percent. D. amount by which consumption increases when disposable income increases by $1.