The DVCs are:
A. located primarily in Northern Europe.
B. located primarily in Western Europe.
C. located primarily in Africa, Asia, and Latin America.
D. more or less evenly distributed over the various continents.
C. located primarily in Africa, Asia, and Latin America.
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Distinguish between fixed and flexible exchange rate systems
What will be an ideal response?
The life-cycle hypothesis was developed in the 1950s, primarily by the economist
A) Franco Modigliani. B) Robert Lucas. C) Walter Rostow. D) Nils Hellstrom.
Which of the following would most likely cause a job to command a compensating wage differential?
a. There are barriers to the entry of new workers into the job market. b. The job is more dangerous than most other occupations. c. Wage rigidity prevents the wage rate from falling to the equilibrium level. d. There has been an increase in the price of another input that is substitutable for labor. e. The job market is dominated by one large firm.
According to Keynesians, an increase in the money supply will have its greatest impact on real GDP and least impact on the price level when the aggregate demand curve intersects
a. the vertical portion of the aggregate supply curve b. the upward sloping portion of the aggregate supply curve c. the horizontal portion of the aggregate supply curve d. either the upward sloping or the vertical portions of the aggregate supply curve e. either the horizontal or vertical portions of the aggregate supply curve