An advance in technology which increases labor productivity will shift the:
a. labor demand curve to the left.
b. MFC curve to the left.
c. MP curve downward.
d. labor demand curve to the right.
e. product demand to the right.
d
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Mutual funds are primarily held by
A) financial institutions. B) households. C) nonfinancial businesses. D) the Social Security trust fund.
Assume that policy makers are pursuing a fixed exchange rate regime and that the economy is initially operating at the natural level of output. Which of the following will occur as a result of a revaluation?
A) The real exchange rate will be permanently higher in the medium run. B) The real exchange rate will be permanently lower in the medium run. C) The effects of this revaluation on the real exchange rate will be ambiguous in the medium run. D) The real exchange rate will be unchanged in medium run. E) The nominal exchange will initially fall in the short run and then increase in the medium run.