The costs to firms of changing prices are called
A) menu costs. B) redistribution costs.
C) anticipation costs. D) money illusion costs.
A
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In a given year, the value of U.S. foreign exchange transactions ________
A) are roughly equal to the value of all U.S. export and import transactions B) cannot be calculated using nominal exchange rates C) are relatively small in comparison with the value of U.S. export and import transactions D) are approximately 25 times greater than the value of U.S. export and import transactions
The Coinage Act of 1792 set the relative values of silver and gold coins at 15 to 1 . Suppose the relative market values of silver and gold had equaled 16 to 1 . In this case,
a. only gold would circulate as money. b. gold would be hoarded and sold abroad. c. gold would be overvalued at the mint. d. individuals would profit by selling gold to the mint.
Refer to the accompanying table. Corey's opportunity cost of making of a pizza is delivering: Pizzas Made Per HourPizzas Delivered Per HourCorey126Pat1015
A. 1/2 of a pizza. B. 2 pizzas. C. 3/2 of a pizza. D. 2/3 of a pizza.
Which of the following groups is engaging in rent seeking?
a. Karst Salvage, a non-profit that accepts donations to educate people about the importance of caves b. Safer Rides, a group that lobbies elected officials to get safety features added to cars c. Daring Drones, a group that makes donations to officials hoping to get permits to fly in restricted areas d. Long-time Logging, which donates money to campaigns of politicians who promise to help preserve forests