Which of the following illustrates a macroeconomic question?
A. Should the salaries of financial executives be regulated by the government?
B. Are increasing wage demands by workers contributing to price inflation?
C. What is the least costly way to produce automobiles and trucks in the United States?
D. Will the introduction of a new computer chip change the demand for computers?
Answer: B
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According to the above table, if the marginal revenue product is $24, how many workers will the profit maximizing monopsonist hire?
A) 4 B) 5 C) 6 D) 7
If a bank receives a deposit of $3,000 and loans out $2,000 . what changes will occur on the bank's balance sheet (after all checks involved with the loan are cleared)?
a. Reserves decrease by $3,000 . total assets decrease by $1,000 . and total liabilities increase by $3,000. b. Reserves increase by $1,000 . total assets increase by $2,000 . and total liabilities increase by $3,000. c. Reserves increase by $3,000 . total assets by increase $3,000 . and total liabilities increase by $3,000. d. Reserves increase by $3,000 . total assets by increase $2,000 . and total liabilities decrease by $3,000. e. Reserves increase by $1,000 . total assets increase by $3,000 . and total liabilities increase by $3,000.
Crime currently affects the measurement of GDP such that
a. expenditures on police protection and detention centers contribute to GDP. b. the loss to victims due to crime is subtracted from GDP. c. crime is completely ignored because it does not express the economic well-being indicated by GDP. d. expenditures on police protection and detention centers are subtracted from GDP.
Figure 2-6
A shift in the production possibilities frontier from DC to EC in could be due to a
a.
technological improvement in the production of ice cream
b.
reduction in the rate of unemployment
c.
rise in the rate of unemployment
d.
technological improvement in the production of frozen yogurt
e.
fall in the demand for frozen yogurt