You are more likely to hire a plumber to repair a leaky drain pipe
a. as the tax rate on your earned income rises
b. if you already own the specialized tools required to complete the plumbing repair work
c. following an increase in the opportunity cost of your time
d. the more knowledge and experience in plumbing repair work that you possess
e. as the transaction cost of entering into a plumbing contract increases due to government regulations
C
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Assuming no change in the nominal exchange rate, how will a lower rate of inflation in the United States relative to Canada affect the real exchange rate between the two countries? (Assume the United States is the "domestic" country.)
A) The real exchange rate will rise. B) The impact on the real exchange rate cannot be predicted. C) The real exchange rate will be unaffected. D) The real exchange rate will fall.
The fundamental value of a stock equals
A) the future value of all future dividends. B) the present value of all future dividends. C) the present value of current and future dividends. D) the present value of all future capital gains.
The short-run aggregate supply curve shows a(n):
a. direct relationship between the expected price level and nominal GDP supplied. b. inverse relationship between the actual price level and real GDP supplied c. direct relationship between the actual price level and nominal GDP supplied. d. direct relationship between the actual price level and real GDP supplied. e. inverse relationship between the expected price level and real GDP supplied.
Refer to Figure 1A.1. If the hours worked per week are 30, the income per week is:
A. 50. B. 100. C. 150. D. 200.