The sequence of events following a contractionary monetary policy would be higher interest rates followed by dollar
A. depreciation, higher exports, and lower imports.
B. depreciation, lower exports, and higher imports.
C. appreciation, lower exports, and higher imports.
D. appreciation, higher exports, and lower imports.
Answer: C
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Which of the following must be true about homothetic tastes:
A. Utility functions that represent those tastes are homogeneous of degree 1. B. There exists a utility function that represents those tastes and is homogeneous of degree 1. C. There exists a utility function that represents those tastes such that the expenditure function is homogeneous of degree 1. D. The indirect utility function is homogeneous of degree zero. E. Both (a) and (c). F. Both (b) and (c). G. Both (b) and (d) H. None of the above.
You are a hotel manager and you are considering four projects that yield different payoffs, depending upon whether there is an economic boom or a recession. The potential payoffs andcorresponding payoffs are summarized in the following table.ProjectBoom (50%)Recession (50%)A$20-$10B-$10$20C$30-$30D$50$50Which project has the greatest variance?
A. A B. B C. C D. D
The majority of export in the U.S. come from:
A. consumption goods and automotive vehicles. B. capital goods and industrial supplies. C. capital goods and consumption goods. D. industrial goods and consumption goods.
The Social Security retirement program is financed by a 10.6 percent payroll tax that applies to earnings up to an income cutoff that is adjusted upward annually by the growth rate of nominal wages. As of 2013, the income cutoff was
a. $15,000. b. $32,700. c. $113,700. d. $250,000.