Khan wants to see his family this upcoming summer. He knows when he will travel well in advance, and he does not care what time he flies or how long the flight takes. Khan will probably ______.
a. have to pay more for his tickets than someone flying prime daytime hours
b. have to pay more for his tickets than someone flying with no advance notice
c. pay less for his tickets than someone who wants a quick flight with no layovers
d. pay the same amount for his tickets as anyone else flying to the same place
c. pay less for his tickets than someone who wants a quick flight with no layovers
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The rate of output at which the price level has no tendency to rise or fall is called the
A) natural rate of output. B) potential level of income. C) bliss point. D) efficient level of output.
The velocity of money is the:
a. rate at which the price index for consumer goods rises. b. multiple by which an increase in government expenditures will cause output to expand. c. average number of times a dollar is used to buy goods and services included in GDP. d. number of times a dollar is taken out of the country during a year.
When actions are finely divisible marginal benefit is ______ marginal cost at an interior best choice.
A. greater than B. less than C. equal to D. greater than or equal to
An alternative to maintaining an undervalued currency is to ________ the fundamental value of the exchange rate by ________ monetary policy.
A. decrease; tightening B. decrease; easing C. increase; tightening D. increase; easing