Under the Bretton Woods system, central bankers could obtain foreign currency loans from the
A) Bank of England. B) U.S. Treasury Department.
C) International Monetary Fund. D) World Trade Organization.
C
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Grocery stores often replace
A) low profit margin goods with services. B) low profit margin goods with high profit margin goods. C) high profit margin goods with low profit margin goods. D) goods with one type of elasticity with goods of similar elasticities.
A price floor that sets the price of a good above market equilibrium will cause
a. a decrease in quantity demanded of the good. b. an increase in quantity supplied of the good. c. a surplus of the good. d. all of the above.
During a recession the economy experiences
a. rising employment and income. b. rising employment and falling income. c. rising income and falling employment. d. falling employment and income.
If the MPC is 0.9, and the government cuts spending by $200b, the overall effect on GDP will be:
A. an increase of $2,000b. B. an increase of $180b. C. a decrease of $1,800b. D. a decrease of $2,000b.