Which of the following is an endogenous variable in the Three-Sector-Model?
a. A change from flexible to fixed exchange rates
b. Wars
c. Domestic quantity of real credit per time period
d. Oil prices
e. All of the above are endogenous
.C
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Answer the next question based on the following payoff matrix for two oligopolistic firms in which the numbers indicate the economic profit in thousands of dollars for a high-price or a low-price strategy. Firm X? High PriceLow PriceFirm YHigh priceA = $625A = $725??B = $625B = $475?Low priceA = $475A = $400??B = $725B = $400If both firms operate independently and do not collude, the most likely economic profit is
A. $625,000 for firm X and $625,000 for firm Y. B. $475,000 for firm X and $725,000 for firm Y. C. $400,000 for firm X and $400,000 for firm Y. D. $725,000 for firm X and $475,000 for firm Y.
Over long time horizons, the more independent a country's central bank is,
A) the lower the inflation that country experiences. B) the better chance that country has of experiencing hyperinflation. C) the higher the country's unemployment rate tends to be. D) the more politically unstable the country becomes.
Suppose the production possibilities for two countries, producing either food or clothing, are shown in the above figure. They can each produce any linear combination as well
Measuring food on the horizontal axis, the joint production possibility frontier has a horizontal intercept of A) 10. B) 20. C) 30. D) 50.
The decline in investment spending accounts for how much of the decline in output during a recession?
a) one-third b) one-seventh c) two-sevenths d) two-thirds