For the simple case of a production function with two inputs in which the inputs are perfect complements, each isoquant is represented by:
A) a vertical line.
B) a horizontal line
C) a downward sloping straight line.
D) a line that forms a right angle.
D
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The Fed makes an open market operation purchase of $200,000. The currency drain ratio is 33.33 percent and the desired reserve ratio is 10 percent. By how much does the quantity of money increase?
A) $800,000 B) $333,333 C) $2,000,000 D) $615,416 E) $465,116
We expect that in the long run, exchange rate movements will largely reflect inflation differentials
Indicate whether the statement is true or false
In 2005, about 5 percent of all members of the U.S. labor force were holding more than one job. This is called moonlighting. To reduce unemployment, should the government ban moonlighting?
What will be an ideal response?
For the past several decades, the percentage of national income in the United States allocated to human capital (employees and self-employed workers) has been approximately
a. 20 percent. b. 40 percent. c. 60 percent. d. 80 percent.