The “invisible hand” refers to the control that government must exercise over a market economy.
Answer the following statement true (T) or false (F)
False
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A flexible exchange rate is an exchange rate whose value:
A. varies according to supply and demand for the currency in the foreign exchange market. B. reflects the comparative advantage of the home country versus other foreign countries. C. is established annually by the International Monetary Fund. D. is determined by the law of one price.
The duration of an expansion is measured from:
A. peak to peak. B. peak to trough. C. trough to trough. D. trough to peak.
If the price of bonds rises,
a. the Fed will decrease the money supply b. the Fed will increase the money supply c. the interest rate will rise d. the interest rate will fall e. inflation must be accelerating
Which of the following statements about elasticity measures is true?
A. Elasticities are always positive values. B. Values that are close to zero indicate greater responsiveness. C. Values that are further from zero indicate greater responsiveness. D. Values that are further from zero indicate less elasticity.