Determine the output level at which he maximize profit if p = 5.
Compute the output elasticity of cost at this output.
Find the equilibrium GDP, the budget deficit or surplus, and the trade deficit or
surplus.
Suppose the currency appreciates and, as a result, exports and imports change to
X = 250
IM = 0.2Y
Now find the new equilibrium GDP, the budget deficit or surplus, and the trade
deficit or surplus.
If a country tries to stimulate the economy with fiscal policy, the effects will be
exchange rate
depreciation, lower interest rates, and a small increase in aggregate demand.
depreciation, higher interest rates, and a small decrease in aggregate demand.
appreciation, lower interest rates, and a small increase in aggregate demand.
appreciation, higher interest rates, and a small increase in aggregate demand.
Are funds available on a credit card included in a definition of the money supply?
Yes, because these funds can be used to pay for goods and services.
No, because these funds are hard to measure total credit card spending.
No, because these funds are not a store of value.
What are the results of a contractionary monetary policy in an open economy with
floating exchange rates and internationally mobile capital?
The dollar appreciates, which leads to an increase in exports and a decrease in
imports. The country therefore winds up with a deficit in capital and a surplus in
its balance of trade.
The dollar appreciates, which attracts foreign capital. Also, imports rise and
exports decline. The country therefore winds up with a surplus in capital and an
increase in its trade deficit.
The dollar depreciates, which attracts foreign capital. Also, exports rise and
imports decline. The country therefore winds up with a deficit in capital and a
surplus in its balance of trade.
The dollar depreciates, which leads to a larger real GDP and a larger trade
surplus.
16 wine, 8 cloth.
16 wine, 16 cloth.
12 wine, 12 cloth.
8 wine, 16 cloth.
If fluctuations in economic activity come from the supply side, higher inflation is
associated with
lower interest rates.
structural deficits.
higher rates of unemployment.
lower rates of unemployment.
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