Nominal exchange rates
a. vary little over time.
b. vary substantially over time.
c. appreciate over time for most countries.
d. depreciate over time for most countries.
b
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The Foreign Corrupt Practice Act (FCPA) is a ________ anti-corruption law that prohibits the bribery of ________.
A) United Kingdom; foreign officials B) United Kingdom; foreign officials and private citizens C) United States; foreign officials D) United States; foreign officials and private citizens
An economic model:
A. should include all possible details. B. always accurately predict cause and effect. C. should make clear assumptions. D. will never use simplifying assumptions.
If a person takes an action if, and only if, the extra benefits from taking that action are at least as great as the extra costs, then that person is:
A. not rational. B. not following the Cost-Benefit Principle. C. following the Cost-Benefit Principle. D. following the Scarcity Principle.
Starting from long-run equilibrium, a large increase in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; potential B. recessionary; higher; potential C. recessionary; lower; lower D. expansionary; higher; higher