Whenever average output produced per worker during a specific time-period increases, then
A) leisure time increases.
B) nominal GDP decreases.
C) labor productivity increases.
D) the standard of living goes down.
C
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Assume that the central bank increases the reserve requirement. If the nation has highly mobile international capital markets and a flexible exchange rate system, what happens to the quantity of real loanable funds per time period and current international transactions in the context of the Three-Sector-Model?
a. The quantity of real loanable funds per time period falls, and current international transactions becomes more negative (or less positive). b. The quantity of real loanable funds per time period rises, and current international transactions becomes more positive (or less negative). c. The quantity of real loanable funds per time period rises, and current international transactions remain the same. d. There is not enough information to determine what happens to these two macroeconomic variables. e. The quantity of real loanable funds per time period and current international transactions remain the same.
All of the following are aspects of microeconomics EXCEPT
A) monopolies. B) a firm maximizing profit. C) a worker choosing one job over another. D) the average level of prices of all goods and services produced in a country in a year.