Which of the following expressions must be equal to national saving for a closed economy?
a. Y - I - G - NX
b. Y - C - G
c. Y - I - C
d. G + C - Y
b
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Which of the following does NOT shift the supply curve?
A) a technological advance B) a decrease in the wages of labor used in production of the good C) a fall in the price of a substitute in production D) an increase in the price of the good
If the money supply is $2 trillion and velocity is 5, then nominal GDP is
A) $1 trillion. B) $2 trillion. C) $5 trillion. D) $10 trillion.
Explain and show graphically the effect of an increase in the expected future exchange rate on the equilibrium exchange rate, everything else held constant
What will be an ideal response?
Competitive firms earn zero profit in the long run when
A) entry is completely free. B) entry is limited. C) Both A and B. D) Neither A nor B.