Which of the following isnot a reason why the aggregate-demand curve slopes downward?
A. the interest-rate effect
B. All of these answers are reasons why the aggregate-demand curve slopes downward.
C. the wealth effect
D. the exchange-rate effect
E. the classical dichotomy/monetary neutrality effects
Ans: E. the classical dichotomy/monetary neutrality effects
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The demand for ________ is more elastic than the demand for ________
A) chewing gum; cars B) all personal computers; Dell computers C) Pepsi; all soft beverages D) food; exotic vacations
An appreciation of the U.S. dollar makes foreign goods cheaper relative to American goods, resulting in a ________ in net exports in the U.S. and a ________ shift of the IS curve in the U.S., everything else held constant
A) fall; leftward B) rise; leftward C) fall; rightward D) rise; rightward
Which of the following is true of marginal product?
a. The firm should produce where marginal product is greatest. b. The firm should produce where marginal product is increasing. c. When marginal product is falling, total product is falling. d. The firm should produce where marginal product is zero. e. When marginal product is increasing, total product is increasing by increasing amounts.
Which of the following is the clearest evidence of employment discrimination against minority employees?
a. the average wages of minority employees are lower than the average wages of whites with similar productivity characteristics. b. the average wage of minority workers is lower than the average wage of whites. c. the average hours worked by minority employees exceeds the hours worked by whites. d. the mean number of years of schooling of minority workers is lower than that of whites.