A surplus or shortage in the money market is eliminated by adjustments in the price level according to
a. both liquidity preference theory and classical theory.
b. neither liquidity preference theory nor classical theory.
c. liquidity preference theory, but not classical theory.
d. classical theory, but not liquidity preference theory.
d
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A decrease in the price of large tractors imported into the United States from Russia
a. leaves the GDP deflator unchanged but decreases the consumer price index. b. decreases the GDP deflator but leaves the consumer price index unchanged. c. decreases both the GDP deflator and the consumer price index. d. leaves both the GDP deflator and the consumer price index unchanged.
The following table provides information about production at the XYZ-TV Company. Number of WorkersTVs ProducedMarginal ProductValue of Marginal Product00------13535$35,00026833$33,00039931$31,000412829$29,000515527$27,000 How many workers will XYZ-TV Company hire if the going wage for TV production workers is $32,000?
A. 3 B. 2 C. 0 D. 1