If the correlation between GDP and y is 0.55, we say y is
A) procyclical.
B) acyclical.
C) countercyclical.
D) tricyclical.
A
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The sum of all of debit items in the balance of payments
A. equals "compensating" transactions. B. equals the errors and omissions. C. equals the overall balance. D. equals the sum of all credit items.
The rational expectations hypothesis indicates that a monetary policy designed to alter real Gross Domestic Product (GDP) will fail unless
A. changes in the money supply are completely anticipated. B. there are unanticipated changes in the money supply. C. labor unions have long-term contracts. D. wages and prices are flexible.
Federal Reserve Notes in circulation are:
A. an asset as viewed by the Federal Reserve Banks. B. a liability as viewed by the Federal Reserve Banks. C. neither an asset nor a liability as viewed by the Federal Reserve Banks. D. part of M1 but not of M2.
If the MRP of land is greater than its price, a firm should
A. use more land. B. try to increase the productivity of land. C. use less land. D. decrease the price it is willing to pay for land.