On the graph above, assuming that G = 0 and NX = 0, the labeled point at which saving is lowest is point ________
A) A
B) B
C) G
D) H
E) not inferable from the information given
E
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For American buyers, there is a decrease in the relative prices of Japanese goods when the ________.
A. inflation rate in Japan is higher than the inflation rate in the United States and there are fixed exchange rates B. inflation rate in the United States is higher than the inflation rate in Japan, and there are flexible exchange rates C. yen appreciates D. dollar appreciates
The empirically observed backward-bending labor supply curve cannot arise from homothetic tastes.
Answer the following statement true (T) or false (F)
Which of the following is responsible for controlling the money supply?
A) the Congress B) the Supreme Court C) the Federal Reserve D) the president
The market basket cost $300 in 2015, while it cost $250 in the base year. Therefore, the price index for 2015 is
A) 83. B) 120. C) 80. D) cannot be calculated because the inflation rate is not given.