The aggregate demand curve implies a vertical shape for the Phillips curve trade-off between inflation and unemployment
a. True
b. False
Indicate whether the statement is true or false
False
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An asset is ________
A) equal in value to its corresponding liabilities and net worth B) a debt for the owner of the asset C) a net outflow from the revenues of a producing firm D) anything that can be owned and has value
Monopsonists tend to exploit the resources as they are the sole employers of the resources
a. True b. False Indicate whether the statement is true or false
Which of the following is an endogenous variable in the Three-Sector-Model?
a. Oil prices b. Wars c. Tax rate increases by the government d. A change from flexible to fixed exchange rates e. Domestic quantity of real credit per time period
Figure 2-9
Assume that the publishing industry produces novels and textbooks, as shown in the production possibilities frontier in . Between points F and G, the opportunity cost of ten more novels equals __________. Between points G and H, the opportunity cost of ten more novels equals __________.
a.
0.4 textbooks; 0.5 textbooks
b.
4 textbooks; 5 textbooks
c.
4 million textbooks; 5 million textbooks
d.
2.5 textbooks; 2 textbooks
e.
10 million textbooks; 5 million textbooks