A mistake is a choice that:
A. the chooser later regrets.
B. the choice architect creates that has unintended consequences.
C. society as a whole, but not necessarily the chooser, is left worse-off once it's made.
D. policymakers think choosers should not make.
A. the chooser later regrets.
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Within a system of perfectly flexible exchange rates, an decrease in the United States demand for imports would result in a
a. rise in the exchange rate. b. fall in the exchange rate. c. balance of payments deficit. d. balance of payments surplus.
We would expect the cross elasticity between tennis racquets and tennis balls to be:
a. negative. b. positive. c. zero. d. one. e. infinite.
Which of the following is true in the classical model?
a. A spontaneous increase in spending can cause an increase in output and employment. b. An increase in output and employment can cause a decrease in spending. c. A spontaneous decrease in spending can cause an increase in output and employment. d. An increase in output and employment can cause an increase in spending. e. A spontaneous decrease in spending can cause a decrease in output and an increase in employment.
The nominal exchange rate (E) as defined in the text represents
A) the number of units of foreign currency you can obtain with one unit of domestic currency. B) the number of units of domestic goods you can obtain with one unit of foreign goods. C) the price of domestic currency in terms of foreign currency. D) none of the above E) both A and C