Price controls usually enhance efficiency in the allocation of resources.
Answer the following statement true (T) or false (F)
False
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The labor market is in equilibrium whenever
A) the nominal wage rate is decreasing. B) the nominal wage rate is increasing. C) the nominal wage rate is not changing. D) the real wage rate is increasing. E) the quantity of labor demanded equals the quantity of labor supplied.
Refer to Table 2-13. What is Horace's opportunity cost of grooming a dog?
A) half a bathed cat B) two bathed cats C) one and a half bathed cats D) two-thirds of a bathed cat
Open market operations generally involve
A) the Fed making discount loans to depository institutions. B) the Fed buying and selling common stock in order to affect the liquidity of the stock market. C) the Fed buying and selling U.S. government securities. D) private investors buying and selling securities directly on exchanges, rather than through brokers.
When a country runs a deficit in its current account, the amount of foreign exchange that the country gets from exporting goods and services and from receipts of unilateral transfers falls short of the amount needed to pay for its imports and to make unilateral transfers. Where does the additional foreign exchange come from?
a. From domestic citizens who purchase foreign goods and services b. From domestic citizens who invest in production facilities, real estate, or financial assets in foreign countries c. From foreigners who invest in domestic production facilities, real estate, or financial assets, and from official government transactions in foreign currency d. From government who buy bonds and stocks from foreigners