Smith drives his car numerous places. Sometimes he drives his car around his residential neighborhood and sometimes he drives it on the highway. Occasionally, Smith gets peeved with the way other people drive and makes a rude gesture to them. Based on one of the theories discussed in the textbook, he is
A) more likely to make a rude gesture to another driver on the highway than in his residential neighborhood.
B) less likely to make a rude gesture to another driver on the highway than in his residential neighborhood.
C) equally likely to make a rude gesture to another driver on the highway as in the residential neighborhood.
D) There is not enough information provided to answer this question.
A
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In the figure above, if there is no Ricardo-Barro effect, the government has a budget ________ because the ________
A) surplus of 0.2 trillion; SLF curve lies to the right of the PSLF curve. B) deficit of 0.2 trillion; SLF curve lies to the right of the PSLF curve. C) deficit of 0.4 trillion; SLF curve shows a smaller quantity of LF than the PSLF curve. D) surplus of 0.4 trillion; SLF curve shows a larger quantity of LF than the PSLF curve. E) surplus of -0.2 trillion; SLF curve lies to the right of the PSLF curve.
Suppose the real exchange rate is 10, the domestic price level is 8, and the foreign price level is 4.(a)What is the nominal exchange rate?(b)Suppose the real exchange rate rises by 10%, the inflation rate in the domestic country is 6%, and the inflation rate in the foreign country is 4%. By what percentage does the nominal exchange rate change?(c)Suppose the nominal exchange rate rises by 5%, the real exchange rate rises by 8%, and domestic inflation is 3%. What is the foreign inflation rate?
What will be an ideal response?
Most Americans
a. have accurate perceptions of the level of corporate profits. b. underestimate corporate profits. c. overestimate corporate profits. d. believe that corporations earn zero profit.
If marginal cost is rising, what must be happening?
a. Average variable cost must be falling. b. Marginal product must be falling. c. Marginal product must be rising. d. Average fixed cost must be rising.