Specialization in production
a. raises productivity.
b. requires money.
c. stimulates exchange.
d. All of the above are correct.
d
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The key to present value calculations is that they
A) are appropriate only for funds in the same time period. B) provide a common unit for measuring funds at different times. C) provide accurate answers only in a low-inflation environment. D) provide accurate answers only in a high-inflation environment.
A financial market panic that causes US depositors to withdraw their funds from Chinese banks, would cause a(n)________ in the demand of US dollars and a(n) _________in the supply of the Chinese Yuan
a. Increase; Increase b. Increase; Decrease c. Decrease; Increase d. Decrease; Decrease
For computers and other business equipment, small changes in business earnings tend to generate relatively large short-run changes in the demand for this equipment, and the long-run income response tends to be smaller. Industries that face demand behavior of this type are known as:
A. natural monopolies. B. cartels. C. cyclical industries. D. constant-cost industries.
On a graph of real gross domestic product over time, recessions appear as
A. relatively short and shallow drops on an otherwise increasing path. B. the dips on a path that increases and decreases equally. C. the periods where the rate of grow, while still positive, slows. D. long, sharp declines on an otherwise increasing path.