Under the gold standard, a country with a trade deficit should expect
a. gold to flow out of the country to other countries.
b. gold to flow into the country from other countries.
c. the value of its currency to appreciate.
d. the value of its currency to depreciate.
a. gold to flow out of the country to other countries.
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In Figure 4-5, the commodity market is in equilibrium
A) at points B, C, and E. B) at points A and E. C) only at point E. D) at points E and D. E) at points A, B, E, and C.
The concentration ratio computed nationally tends to understate the market power in local markets.
Answer the following statement true (T) or false (F)
In the absence of technological progress, we know with certainty that an increase in the saving rate will cause which of the following?
A) increase steady state consumption B) decrease steady state consumption C) have no effect on steady state consumption D) increase steady state consumption only if the increase in saving exceeds the increase in depreciation E) increase steady state consumption only if the increase in saving is less than the increase in depreciation
If a policy is implemented that reduces unemployment benefits by 50 percent and reduces by 50 percent the time the unemployed can collect these benefits, then this would most likely shift the
A. labor supply curve to the left. B. labor supply curve to the right. C. labor demand curve to the right. D. labor demand curve to the left.