Criticisms of the ECB center on its primary focus on ______ with less (but perhaps more needed) focus on _______.
A) unemployment and GDP growth; exchange rates
B) exchange rates; inflation problems
C) price stability; unemployment and GDP growth
D) political cohesiveness; price stability
Ans: C) price stability; unemployment and GDP growth
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The action of arbitrage is
A) the process of buying a currency cheap and selling it dear. B) the process of buying a currency dear and selling it cheap. C) the process of buying and selling currency at the same price. D) the process of selling currency at different prices in different markets. E) the process of buying a currency and holding onto it to take it off the market.
If marginal cost of an additional unit of output is greater than average cost, then average cost will rise.
Answer the following statement true (T) or false (F)
What will happen to the demand for beers such as Natural Light, Coors Light and Bud Light near college towns if students' income increased tremendously?
a. Demand will fall because students love these beers b. Demand will fall because these beers are considered inferior goods c. Demand will rise because these beers are considered inferior goods d. Demand will not change as students are already maximizing their drinking capacity
Structural unemployment occurs because
A. new jobs are created, while old jobs cease to be viable. B. there are long-term mismatches between workers skills and jobs available. C. jobs differ in their location, skills required, and working conditions. D. the economy is experiencing a period of unusually low production.