Which of the following is a macroeconomic question?
A. Should we have a constitutional amendment requiring the government to implement a national consumption tax to replace the current income tax?
B. Why did a leading computer manufacturer establish call centers in India?
C. Why does a pharmaceutical manufacturer try to lower its production costs?
D. Should the government put a tax on alcohol in an attempt to assist in the funding of support groups like Alcoholics Anonymous?
Answer: A
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What does the cross elasticity of demand measure?
What will be an ideal response?
The Marshall-Lerner condition holds that a country's current account balance will ________ in response to a real ________ in a nation's currency if ________
A) improve; depreciation; sum of the price elasticities of export and import demand exceeds 1 B) worsen; depreciation; sum of the price elasticities of export and import demand exceeds 1 C) improve; appreciation; sum of the price elasticities of export and import demand exceeds 1 D) improve; appreciation; sum of the price elasticities of export and import demand exceeds 0 E) worsen; depreciation; sum of the price elasticities of export and import demand exceeds 0
The velocity of money ________
A) represents the average number of times a dollar turns over through the year B) provides the link between the money supply and nominal income C) times the money supply should equal total income, according to the equation of exchange D) all of the above E) none of the above
If the wage rate is fixed at a certain level, then MLC is equal to that wage rate
Indicate whether the statement is true or false