In practice, the ECB has committed to what type of strategy for monetary policy?
A) inflation targeting
B) monetary targeting
C) unclear as to inflation or monetary targeting
D) exchange rate targeting
C
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If demand increases in a perfectly competitive market, then in the short run supply will:
A. increase. B. decrease. C. not change. D. either increase or decrease.
Suppose that a firm's capital equipment is expected to last indefinitely, that operating expenses on the equipment are negligible, and that the price of the firm's product is expected to remain constant in the future. Under these circumstances, the firm's marginal rate of return on investment is equal to capital's
a. marginal resource cost as a percentage of its marginal revenue product b. marginal product as a percentage of its marginal revenue product c. marginal revenue product as a percentage of its marginal product d. marginal resource cost as a percentage of the price of capital e. marginal revenue product as a percentage of its marginal resource cost
Which of the following goods is likely to have the most elastic demand?
A. movie passes B. cigarettes C. electricity D. gasoline
Workers in the United States were granted the legal right to engage in collective bargaining by the
A) National Labor Relations Act. B) Taft-Hartley Act. C) Landrum-Griffin Act. D) Knights of Labor Act.