Partial equilibrium analysis refers to ________ examining the equilibrium conditions in individual markets and for households and firms.
A. jointly
B. partially
C. simultaneously
D. separately
Answer: D
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Older workers are:
A. Much more likely to migrate than younger workers because older workers have lower moving costs B. Much less likely to migrate than younger workers because older workers are more likely to have children at home C. Much more likely to migrate than younger workers because older have lower implicit costs of migrating D. Much more likely to migrate than younger workers because younger workers have stronger roots and ties to the local community
If total output increases from $1 trillion to $2 trillion as population increases from 100 million to 200 million, then output per person:
A. remains constant. B. doubles. C. decreases D. increases, but by less than 100 percent.
Use the following graph to answer the next question.
Which line in the graph would best illustrate the supply of money curve?
A. Line 4 B. Line 3 C. Line 2 D. Line 1
Consider an economy that is greatly dependent on the U.S. economy for consumer goods and durables. Inflation will increase in the economy if:
A) the dollar appreciates vis-à-vis its own currency. B) the U.S. goes into a recession. C) the dollar depreciates vis-à-vis its own currency. D) the country adopts dollar as its official currency.