Refer to Table 7-6. If the actual terms of trade are 1 belt for 1.5 swords and 50 belts are traded, how many belts will Estonia consume?
A) 50 B) 70 C) 90 D) 120
A
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A law that requires the money supply to grow by a fixed percentage each year would eliminate
a. the time inconsistency problem, but not political business cycles. b. the political business cycle, but not the time inconsistency problem. c. both the time inconsistency problem and political business cycles. d. neither the time inconsistency problem nor political business cycles.
As you move down an isoquant:
A. production remains technically efficient. B. the marginal rate of substitution does not change. C. more of all inputs must be used to keep output constant. D. production remains economically efficient.
Between the U.S. and Nepal, Nepal invests less in new factories and equipment. This will likely cause
A. the U.S.'s production possibilities frontier to shift outward faster than Nepal's. B. Nepal's production possibilities frontier to shift inward faster than the U.S.'s. C. the U.S.'s production possibilities frontier to shift inward faster than Nepal's. D. Nepal's production possibilities frontier to shift outward faster than the U.S.'s.
In the short run, the following could cause a recessionary gap
What will be an ideal response?