In the above table, the total utility of three slices of pizza is
A. 80.
B. 50.
C. 20.
D. 70.
Answer: D
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Which of the following does not cause exchange rate fluctuations?
a. Changes in relative international incomes. b. Changes in relative international expectations. c. Central bank interventions in the foreign exchange market. d. Changes in relative international tax rates. e. All of the above variables cause exchange rate fluctuations.
If expectations are formed rationally, wages and prices are completely flexible in the short run and policy is correctly anticipated, increases in aggregate demand will
A) cause lower short-run price level increases than a Keynesian would expect. B) cause higher short-run price level increases than a Keynesian would expect. C) not impact the general price level. D) produce both increases and decreases in the price level at different times.
The labor-supply and labor-demand curves for the market intersect:
A. at the equilibrium wage. B. at the number of unemployed people in the market. C. above equilibrium price. D. All of these statements are true.
The rule of 72 implies that a country will double its income in about 4 years if its growth rate is:
A. 25 percent. B. 18 percent. C. 8 percent. D. 12 percent.