Upon which of the following industries is a restrictive monetary policy likely to be most effective?
A. Furniture.
B. Clothing.
C. Food processing.
D. Residential construction.
D. Residential construction.
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Table 19-1 ? American Coal British Coal Cost per Ton Cost per Ton $150 £75 Assume that the information in Table 19-1 applies to the cost per ton of coal in 1998. Assume that also over a 10-year period prices rise 100 percent in Great Britain and 200 percent in the United States. According to the purchasing power parity theory, the exchange rate between the dollar and the pound in the year 2008 will be
A. 1 dollar = 2 pounds. B. 1 pound = 2 dollars. C. 1 pound = 3 dollars. D. 1 dollar = 3 pounds.
A binding price floor causes a shortage in the market
a. True b. False Indicate whether the statement is true or false
Coordination problems in large firms might lead to:
A. horizontal marginal cost curves. B. downward-sloping marginal cost curves. C. upward-sloping short-run average cost curves. D. upward-sloping long-run average cost curves.
For a perfectly competitive firm, the short-run break-even point occurs at the level of output where
A. MR < P = MC. B. P > MR = MC. C. MR = P > MC. D. P = MC = ATC.