The absolute price of a good in dollar terms is the good's:
A. nominal price.
B. equilibrium price.
C. marginal price.
D. market price.
Answer: A
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In economics, the short run is the time frame in which the quantities of ________ and the long run is the period of time in which ________
A) some factors of production are variable; the quantities of all factors of production are fixed B) all factors of production are variable but technology is fixed; technology is variable C) all factors of production are fixed; the quantities of all factors of production can be varied D) some factors of production are fixed; the quantities of all factors of production can be varied
A fundamental principle in demand analysis is that a change in price leads to
A) a movement along the demand curve. B) a rightward shift of the demand curve. C) a leftward shift of the demand curve. D) a complementary movement on the supply curve.
Which of the following is true of offshore banking?
a. The offshore banks are mainly concentrated in the European Union and the transactions are generally denominated in euro. b. The offshore banks operate with costly restrictions and pay higher taxes than the domestic banks. c. The offshore banks usually charge higher rates of interest on consumption loans than the domestic banks. d. Offshore banks in the U.S. are able to offer a higher rate on dollar deposits and a lower rate on dollar loans than their domestic competitors. e. Offshore banking transactions are considerably less risky than domestic transactions as they are closely monitored by the government of the nations in which they operate.
In a fixed exchange rate system, the center country, to whose currency the other countries peg their exchange rate, will:
A) find it difficult to conduct autonomous monetary policy. B) find it difficult to conduct autonomous fiscal policy. C) easily implement monetary and fiscal policy to suit its economy. D) defer to advice from other countries in conducting its domestic policy.