Which of the following would cause the nominal exchange rate to appreciate?
A) The real exchange rate depreciates.
B) The domestic inflation rate decreases.
C) The domestic inflation rate increases.
D) The government budget deficit decreases.
B
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An "omitted variable" is
A) a variable that has no impact on other variables in an economic analysis. B) a variable which is purposely omitted from an economic analysis. C) a variable that affects other variables and its omission from economic analysis can lead to false conclusions about cause and effect. D) a variable which is inadvertently omitted from an economic analysis.
Who among the following list of people is an early 20th century economist from Yale University who wrote the book The Theory of Interest?
A) Gustav Cassel B) Irving Fisher C) David Ricardo D) Paul Krugman E) Israel Kirzner
Which of the following is the best definition of economics?
a. Economics is the study of how society chooses to allocate its scarce resources. b. Economics is the study of how to manage city and county government to generate the greatest good to its citizens. c. Economics is the study of how to manage corporations to generate the greatest return on shareholder investment. d. Economics is the study of how to track revenues and costs within a business.
Real income and money income are the same concept
Indicate whether the statement is true or false