When drawn against the real interest rate, the output demand curve shifts to the right when A) current total factor productivity z increases. B) current total factor productivity z decreases. C) future total factor productivity z’ increases. D) future total factor productivity z’ decreases. ANSWER C
Date: September 10th, 2020
If savings does not depend upon the interest rate, then a. the IS curve is vertical. b. the IS curve is horizontal. c. the LM curve is horizontal. d. the IS curve is still downward sloping. e. none of the above. ANSWER D
Date: September 10th, 2020
European agricultural practices perfectly served the colonists farming in the New World. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
Indentured servants were white colonists who sold themselves into slavery when their farms in America failed. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
Profits earned in the United States by a foreign-owned firm would be included in a. gross domestic product and gross national product. b. gross national product but not in gross domestic product. c. gross domestic product but not in gross national product. d. neither gross domestic product nor gross national product. ANSWER C
Date: September 10th, 2020
The ratio of retirees to workers who make contributions to the Social Security system ________. A) has increased over the years B) increased as a result of the baby boom following World War II, but has subsequently declined C) has fallen with the decline in U.S. birth rates D) determines the size of contributions to […]
Date: September 10th, 2020
According to Figure 3.2, the marginal product of labor a. falls short of the real wage at point b. b. is higher at point a than at point e. c. equals the real wage at point c. d. All of the above e. None of the above. ANSWER D
Date: September 10th, 2020
Within the simple Keynesian model with lump-sum taxes, if the MPC (b) were 0.75 then if taxes rise by $200 then income a. rises by $800. b. falls by $200. c. falls by $800. d. rises by $200. e. falls by $800. ANSWER E
Date: September 10th, 2020
In the new classical model, stabilization policies a. cannot affect output and employment in either the short run or the long run. b. affect output and employment only in the short run. c. have no effect on output and employment, even in the short run. d. affect output and employment only in the long run. […]
Date: September 10th, 2020
The pay-as-you-go system for the Social Security System entails. ________. A) a transfer of payments from those currently working to retirees B) taxing the import and export of goods and services into an out of the United States C) a number of current retirees that exceeds the number of employed individuals D) issuing additional government […]
Date: September 10th, 2020
