The ________ exchange rate incorporates both the market exchange rate and the product price levels for two countries.
A. real bilateral
B. nominal bilateral
C. nominal effective
D. real effective
Answer: A
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The table above shows the production possibilities frontier for the nation of Isolanda
a) Find the marginal cost of a pound of fish using the above PPF. b) How does the marginal cost of a pound of fish change as more fish are caught?
Which of the following taxes causes the greatest shift of the Lorenz curve toward the line of equality?
A) proportional income tax B) regressive income tax C) flat-rate income tax D) progressive income tax
When U.S. Steel, a steel producer, bought control of iron ore companies at the beginning of the 20th century, the company was initiating
A) a horizontal merger. B) a vertical merger. C) a cartel. D) an expropriation.
The most common estimate of the value of transactions used to estimate velocity is
a. real GDP. b. total sales. c. nominal GDP. d. cash balances.