In its macroeconomic equilibrium, the economy can be producing at
i. below full employment.
ii. full employment.
iii. above full employment.
A) i only B) ii only C) iii only D) i or ii E) i, ii, or iii
E
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According to this Application, some conservatives worry that a value-added tax ________ and some liberals worry that a value-added tax ________
A) will penalize high-income individuals; will decrease per-capita GDP B) will discourage consumers from saving; will decrease federal tax revenue C) will result in consumers not realizing all the taxes they pay; is regressive D) is progressive; will reduce investment.
Answer the following statements true (T) or false (F)
1) If managers holding an auction release more information about the value of the item, they will reduce their profit. 2) Regardless of whether an auction's purpose is to sell a product or buy one, providing more information about the value of the auctioned item can benefit the auction's managers because bidders will have more confidence in their valuations. 3) Regardless of what policies a manager creates, it is unlikely that the manager can completely solve the principal-agent problem. 4) If restaurant managers have a policy that servers' tips are to be combined and then shared equally at the end of the day, this will incentivize all servers to to take the best care of their customers. 5) In general, if managers are able to make a job more appealing to an employee, this helps managers as it reduces labor turnover.
A decrease in nominal incomes cause a:
a. rightward shift in the short-run aggregate supply curve. b. leftward shift in the short-run aggregate supply curve. c. rightward shift in the long-run aggregate supply curve. d. leftward shift in the long-run aggregate supply curve.
Assume that an economic boom occurs in the United States, so that the United States has a much higher growth rate than other nations. What will happen to the exchange rate of the U.S. dollar?