The dates of the "official" peaks and troughs of business cycles in the United States are determined by the:
A. Congressional Budget Office.
B. Federal Reserve Board.
C. Council of Economic Advisers.
D. National Bureau of Economic Research
Answer: D
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If two products are substitutes, then the:
A. cross-price elasticity of demand between them will be negative. B. income elasticity of demand for both will be high. C. price elasticity of demand for both will be positive. D. cross-price elasticity of demand between them will be positive.
Using the table above, if the current market value of the dollar is 110 francs
A) investor A expects dollar appreciation, but B and C expect depreciation. B) investor C expects dollar depreciation, but A and B expect appreciation. C) all three investors expect the dollar to appreciate. D) all three investors expect the dollar to depreciate.
If the risk of holding assets in foreign countries rises relative to the risk of holding U.S assets, then
a. U.S. net capital outflow rises which increases the U.S. exchange rate. b. U.S. net capital outflow rises which decreases the U.S. exchange rate. c. U.S. net capital outflow falls which increases the U.S. exchange rate. d. U.S. net capital outflow falls which decreases the U.S. exchange rate.
If a monopolistically competitive firm is making profits
A. it can be assured of high profits for all time to come. B. the entrance of new firms decreases the demand facing the firm, thereby reducing profits. C. the entrance of new firms increases the demand facing the firm, thereby reducing profits. D. the entrance of new firms increases costs, thereby reducing profits.