Which of the following countries has not experienced hyperinflation in the twentieth century?
a. Germany
b. Russia
c. Argentina
d. United States
d
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The goal of a perfectly competitive firm is to maximize its
A) normal profit. B) revenue. C) output. D) economic profit.
If the price of prime rib falls, the income effect due to the price change will cause
A) an increase in the quantity of prime rib supplied. B) an increase in the demand for prime rib. C) an increase in the demand for flank steak, a substitute for prime rib. D) an increase in the quantity of prime rib demanded.
From 1990s until 2012, the Japanese economy has experienced
A) easy monetary policy as indicated by falling nominal interest rates. B) easy monetary policy as indicated by short-term interest rates near zero. C) tight monetary policy as indicated by falling asset prices. D) tight monetary policy as indicated by short-term interest rates near zero.
If at a given real interest rate desired national saving is $140 billion, domestic investment is $90 billion, and net capital outflow is $60 billion, then at that real interest rate in the loanable funds market there is a
a. surplus. The real interest rate will rise. b. surplus. The real interest rate will fall. c. shortage. The real interest rate will rise. d. shortage. The real interest rate will fall.