Policy makers can select from a number of different exchange rate regimes. One of those options is a "hard peg." Which of the following best represents a hard peg?
A) a revaluation
B) a currency board
C) a flexible exchange rate regime
D) the EMS
E) none of the above
B
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Which statement most accurately defines economics?
A) Economics is the study of how people make money. B) Economics is the study of how people make choices to satisfy their wants. C) Economics is the study of values a society should choose. D) Economics is the study of how to eliminate scarcity.
Juanita has just started a business and is using her personal car to deliver goods. The use of her car is an example of
A) an explicit cost to the business. B) an implicit cost to the business. C) financial capital. D) interest.
An increase in price expectations shifts the long-run Phillips curve, but not the short-run Phillips curve
a. True b. False Indicate whether the statement is true or false
Game theory is just as necessary for understanding competitive or monopoly markets as it is for understanding oligopolistic markets
a. True b. False Indicate whether the statement is true or false