In the long run, the chief determinant of exchange rate changes is a change in
A. interest rates.
B. real GDP.
C. the price of gold.
D. price levels.
Answer: D
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Refer to Table 4-8. If a minimum wage of $10.00 an hour is mandated, what is the quantity of labor demanded?
A) 390,000 B) 370,000 C) 350,000 D) 40,000
In the kinked demand curve model, the demand curve is ________ for price increases and ________ for price decreases
A) unit elastic; relatively elastic B) relatively inelastic; relatively elastic C) relatively elastic; relatively inelastic D) perfectly elastic; perfectly inelastic
Gas and Coal Utility companies can use a mix of plants different energy sources to produce electricity, mainly these are coal fired plants but increasingly they relying on gas turbines. Technological improvements in hydraulic fracturing, or "fracking," have decreased the cost of extracting smaller pockets of natural gas. What affect does fracking have on supply and demand for coal?
Real disposable income is held constant when constructing a consumption function
a. True b. False Indicate whether the statement is true or false