The equilibrium price in the market for foreign currencies is called
a. The price
b. The market price
c. The exchange rate
d. The going rate
c
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In reality, the long-run supply curve for a perfectly competitive market is upward sloping because:
A. of changing costs of production that firms may face. B. experienced firms will have different information and costs than new firms. C. not all firms have identical cost structures. D. All of these are true.
What measure of economic well-being is most often used?
a. gross domestic product b. gross domestic product per capita c. nominal gross domestic product per capita d. real gross domestic product per capita
The subjective evaluation method that requires the evaluator to rank the employees on a number of different performance factors using a five point scale is called a(n):
A. 360-degree performance system. B. internal benchmarking system. C. standard rating scale system. D. goal-based rating system.
Which of the following would not shift the aggregate supply curve?
A. An increase in labor productivity. B. A decline in the price of imported oil. C. A decline in business taxes. D. An increase in the price level.