Which of the following identifies a major force that can intensify an international financial crisis?
A. Dispute settlement procedures at the International Monetary Fund
B. Global contagion
C. Current account convertibility
D. A persistent negative output gap
Answer: B
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A nonmonetary opportunity cost is called a(n) ________, while a cost that involves spending money is called a(n) ________
A) implicit cost; explicit cost B) normal rate of return; asset C) accounting profit; economic profit D) accounting cost; explicit cost
How does an increase in the price level result in higher interest rates?
A) It increases the real money supply. B) It decreases the real money supply. C) It increases the real money demand. D) It decreases the real money demand.
Which of the following is not a technical barrier to entry in a monopolized market?
a. A patent b. Decreasing average cost c. A low cost method of production known only by monopolists d. Increasing returns to scale
The graphical result of a binding price ceiling is:
a. quantity demanded at the price ceiling exceeds the amount at the equilibrium price, and quantity supplied is less than the amount at the equilibrium price. b. quantity supplied at the price ceiling exceeds the amount at the equilibrium price, and quantity demanded is less than the amount at the equilibrium price. c. quantity demanded and quantity supplied at the price ceiling are equal at the equilibrium price. d. quantity demanded at the price ceiling is less than the amount at the equilibrium price, and quantity supplied is also less than the amount at the equilibrium price