On January 25, 2009, one U.S. dollar traded on the foreign exchange market for about 3.33 Romanian new lei. Therefore, one Romanian new lei would have purchased about ________ U.S. dollars
A) 0.30
B) 1.86
C) 2.86
D) 3.33
A
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A change in an equilibrium price can result from I. A change in demand II. A change in supply
A) I only B) II only C) Both I and II D) Neither I nor II
In the 1990s, Japan experienced ______.
a. deflation b. inflation c. stagflation d. hyperinflation
Joe is one mile from the finish of a grueling 26 mile marathon. Tim is at the four mile mark of a five mile run. Which runner is most likely to be emotionally energized for the race to the finish line?
A. Joe. B. Joe and Tim should be equally energized. C. Tim. D. Without knowing more about the runners there is no way to predict which runner will be most energized.
Proponents of inflation targeting generally think that:
A. the economy will have fewer, shorter, and less severe business cycles if the Fed holds the rate of inflation to low, targeted levels from year to year. B. low interest rates are inflationary and high interest rates are deflationary. C. fiscal policy is more effective in stabilizing the economy than monetary policy. D. the Fed should strive to achieve zero inflation.