If a country's currency is determined only by the demand and supply for that country's currency, the country is said to have a
A) fixed exchange rate. B) gold standard.
C) managed float. D) floating exchange rate.
D
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The U.S. exports computers with a domestic price of $100,000 and the yen/dollar exchange rate is 120 on January 1, 2003. On January 1, 2004 the yen/dollar exchange rate is 125
What is the yen price of the computers on January 1, 2003? What is the yen price of the computers on January 1, 2004?
The amount of a good that must be given up to produce another good is the concept of:
A. scarcity. B. specialization. C. opportunity cost. D. efficiency.
Falling output, in the short run, could be due to:
A. an increase in short-run aggregate supply. B. a reduction in aggregate demand. C. an increase in long-run aggregate supply. D. an increase in aggregate demand.
Which of the following are examples of experimental economics?
A. computer experiments B. laboratory experiments C. field experiments D. natural experiments