An economy currently has an inflationary gap. An increase in the money wage rate will ________ the inflationary gap and ________ the price level
A) decrease; decrease
B) increase; increase
C) increase; decrease
D) decrease; increase
D
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In reading the stock market quotes in the newspaper, the column with the heading "Ticker" gives the
A. number of shares of the stock traded that day. B. the full name of the company whose stock is being studied. C. stock symbol for the company. D. highest price the stock has sold for in the past year.
What does Simon Kuznet's (1958) study on the U.S. economy show?
(a) Short swings in the U.S. business cycles but steady, stable growth in Real Gross Domestic Product (b) Immigrants to the U.S. were attracted by the secular increases in U.S. real wages and incomes (c) A decrease, not increase, in net U.S. migration from 1860 to 1910 (d) No movement in capital, only humans, across the Atlantic economy from 1860 to 1910
Suppose the total cost of producing T-shirts can be represented as TC = 50 + 2q. The average cost of the 5th T-shirt is
A) 2. B) 12. C) 52. D) 60.
Suppose that initially, demand is given by the equation Qd = 48 ? 4P. If, as a result of an increase in income, the quantity demanded increases by 12 at every price, the new demand equation would be:
A. Qd = 48 ? 16P. B. Qd = 48 ? 8P. C. Qd = 60 ? 4P. D. Qd = 36 ? 4P.