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Firms consider the __________ wage when considering whether to hire additional units of labor.
a. nominal
b. real
c. minimum
d. normal
A comparison of the average growth rates across time for developed nations indicates that:
a. nations with lower levels of income grow more slowly than those with higher levels of income
b. nations with lower levels of income will never be as rich as nations with high levels of income
c. nations with higher levels of income experience a continuously increasing growth rate
d. nations with lower levels of income grow more quickly than those with higher levels of income
What would be a way for the Federal Reserve to slow down the economy when it is growing too quickly or is inflationary?
a. Print more money
b. Buy back government bonds on the open market
c. Sell more government bonds
d. Encourage the stock market
five firms supplied amateur color film in the United States: Kodak, Fuji, Konica, Agfa, and 3M. From a technical viewpoint, there was little difference in the quality of color film produced by these firms, yet Kodak's market share was 67 percent.
Consider the utility function U(x,y)=3x+6y. An agent with a budget constraint of 15x+5y=30 will choose which of the following bundles in order to maximize his utility? 1/2 unit of x and 1 unit of y 2 units of x 2/3 units of x and 4 units of y 6 units..
Which leads to higher interest rates, which leads to higher output? Which leads to higher inflation? Which represents a more hawkish Fed? Which represents a more dovish Fed?
Describe and explain the meaning of the “Invisible Hand”. Describe what it does, how it works and benefits.
We have done a fantastic job getting a basic understanding of unemployment. Let's take a look at some additional ideas on unemployment. The text gives us various "types of unemployment" beginning on page 411. What types of unemployment does the text ..
Unconscionable Contracts or Clauses. Geographic Expeditions, Inc. (GeoEx) , which guided climbs up mount Kilimanjaro, required climbers to sign a release to participate in a expedition. The form mandated the arbitration of any dispute in San Francisc..
Illustrate what are the influences of aging population to business in developing countries. In these transactions, Explain how much has been added to GDP.
A perfectly competitive painted necktie industry has a large number of potential entrants. Each firm has an identical cost structure such that long-run average cost is minimized at an output of 20 units (qi = 20). What is the industry's long-run supp..
If Social Security were considered part of the general budget then,
You are considering expanding your product line that currently consists of skateboards to include gas-powered skateboards, and you feel you can sell 9,000 of these per year for 10 years. What are the annual free cash flows associated with this projec..
In thinking about monetary and fiscal policies there are a lot of models with different graphs involved. Let’s focus for a minute on some of the relationships between them. Graph an increase in the money supply and the most likely effect this will ha..
The game ends when the stack runs out or one of the players takes two notes (whichever comes first). Both players keep illustrate what they have taken to that point.
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