What is rent seeking?
What will be an ideal response?
Rent seeking is the process of using public policy to gain economic profit.
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In January 2001, the euro/dollar exchange rate was 1.10, and in January 2002, the euro/dollar exchange rate was 1.120 What happened to the exchange rate during this period?
A) Euro appreciated against the dollar. B) Euro depreciated against the dollar. C) Dollar appreciated against the euro. D) Both B and C.
Which of the following is an example of a good with an inelastic supply?
a) beanbags b) toothbrushes c) apples d) hats
The Current Population Survey interviews approximately how many households each month?
A) 5,000 B) 10,000 C) 60,000 D) 100,000
Reserves of a bank equal its
A) deposits with the Federal Reserve. B) vault cash plus deposits of its customers. C) vault cash plus deposits with the Federal Reserve. D) vault cash.