The amount of real GDP produced at any one time depends on
i. a fixed amount of capital.
ii. a fixed level of technology.
iii. decisions people make about leisure versus working.
A) ii only
B) ii and iii
C) i and ii
D) i only
E) i, ii and iii
E
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A bond that promises to pay $X in 10 years must be worth less than $X now.
Answer the following statement true (T) or false (F)
The firm's supply curve is made up of the
A. points where MC=MR. B. points where MC=MR, and they make a profit. C. points where MC=MR above the minimum of AVC. D. points where MC=MR, and they make at least breakeven.
The speculative demand for money is related to money functioning as a
A. Medium of exchange. B. Unit of account. C. Standard of value. D. Store of value.
Which of the following exchange rate policies was undertaken by the Chinese government in 1994?
A. A free-floating exchange rate regime was adopted. B. The Chinese yuan was revalued against the U.S. dollar. C. The Chinese yuan was revalued against the euro. D. The Chinese yuan was pegged to the U.S. dollar.