Reference no: EM13892102
Suppose that 1990 is the base year used to calculate the CPI. And the CPI in the year 2000 is 110. How much of A C.O.L.A. adjustment will you receive?
a. a 10% increae in the nominal wage
b. a 10% increase in the real wage
c. a 10% decrease in the nominal wage
d. no wage change
Exports __________GDP and imports___________GDP.
a. increase, decrease
b. decrease, increase
c. increase, increase,
d. decrease, decrease
Economists say that the economy is a "full employemnt" when the:
a. structural unemployment rate is zero.
b. total umployment rate is zero
c. fricitonal unemployment rate is zero.
d. natural unemployment rate is zero/
e. None of the above
Suppose that 2000 is the base year used to calculate the CPI. And ethe CPI in the year 2007 is 110. What is the value of the CPI in 2000?
a. 100
b. 110
c. 10%
d. none of the abov
Tariffs are more favorable to an importing country than quotas because:
a. Tariffs help the importing country through increased taxation revenue
b. Import quotas do not transfer any extra revenues to the exporting country
c. The tax revenue earned from a tariff is transferred to the exporting country
d. None of the above
In order to be defined as unemployment a person must:
a. not have a job
b. not have a job and must have looked for work for some time.
c. not have a job and must be actively looking for work
d. have a job but looking for a different job
e. working less than their desired amount of time
Which of the following best defines the business cycle?
a. a mapping of GDP over time
b. differences in cyclical unemployment
c. expansions and contractions in the economy's GDP
d. all of the above
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Bonds issued by many other developing countries
: When a leading developing country defaults on its loan to foreigners, discuss (with the aid of loanable funds market diagram) why interest rates will rise on bonds issued by many other developing countries.
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What is the initial level of output per person
: Consider Romer’s growth model of Chapter 6 and let A0¯ = 100, l¯ = 0.06, What is the growth rate of output per person in this economy? What is the initial level of output per person?
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Change in supply and a change in quantity supplied
: What is difference between a change in supply and a change in quantity supplied? How the following factors will affect the supply curve? (your answer must be supported by a neat diagram):
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Is the demand for the good is elastic or inelastic
: Suppose that a producer raises the price of a good from $8 to $15, and the quantity sold drops from 250 to 40 units. Is the demand for the good is elastic or inelastic?
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Which of the best defines the business cycle
: Tariffs are more favorable to an importing country than quotas because: Which of the following best defines the business cycle? Suppose that 2000 is the base year used to calculate the CPI. And ethe CPI in the year 2007 is 110. What is the value of t..
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Unemployed but actively seeking work
: Suppose an economy consists of 300,000 individuals 16 years and older, 160,000 are employed, and 18,000 are unemployed but actively seeking work. In this example the labor force is:
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What is the situation in the area of trade
: What is the situation in the area of trade (use a dollar amount)? What do keakages equal (measured in dollars)?
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Produce grapes at lower opportunity cost
: If France can produce grapes at a lower opportunity cost than any other nation, France is said to have a/n ____________in the production of grapes.
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How many people can be catagorized frictionally unemployed
: How many people can be catagorized as frictionally unemployed? How many people can be categorized as structurally unemployed? How many people are not in the labor force? What is the unemployment rate? What is the natural rate of unemployment?
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