32.Your grandfather tells you that he earned $7,000/year in his first job in 1961. You earn $35,000/year in your first job in 2011. You know that average prices have risen steadily since 1961. You earn<INPUT TYPE=\ C) less than 5 times as much as your grandfather in terms of real income.33.Which of the following is a reason why decreases in the price level result in a rise in aggregate expenditure?<INPUT TYPE=\
34.Which of the following functions of money would be violated if inflation were high?
35.Which of the following is a reason why we should consider the federal national debt a problem?
36.A college must decide if it wants to offer more Internet-based classes. This decision involves answering the economic question of "what to produce."<INPUT TYPE=\ A) True37.If a country produces only two goods, then it is not possible to have a comparative advantage in the production of both those goods.<INPUT TYPE=\ B) False38.Excluding underground economy production from measured GDP causes errors in GDP growth estimates inthe long run.<INPUT TYPE=\ A) True39.The natural rate of unemployment consists of frictional unemployment plus structural unemployment.<INPUT TYPE=\ A) True40.An increase in the price of output will cause a firm’s MRP to shift upward.<INPUT TYPE=\ A) True41.If the effective tax rate on capital falls, that will result in the investment demand function shifting to the right.<INPUT TYPE=\ A) True42.If the US economy is growing faster than the rest of the world, then we would expect a surge in US imports.<INPUT TYPE=\ A) True43.