Which of the following is NOT a service?
A) physical labor purchased by a producer
B) things purchased by a consumer that do not have physical characteristics
C) a diamond used in an engagement ring
D) tasks performed by someone else
Answer: C
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Since 1994 the number of people on the welfare rolls has
A. risen substantially. B. risen slightly. C. stayed about the same. D. fallen substantially.
If the exchange rate between the United States and Portugal changes from $1 = 1 euro to $1 = 2 euros, then holding everything else constant, the price of U.S. goods in Portugal will decrease.
Answer the following statement true (T) or false (F)
A decrease in the price of a currency in terms of another under a flexible exchange rate regime is called:
a. capital flight. b. depreciation. c. revaluation. d. devaluation. e. currency adjustment.
In the last three decades, inflation has been relatively low in the U.S. economy, with the Consumer Price Index typically rising what percentage per year?
a. 1% to 2% b. 2% to 3% c. 2% to 4% d. 3% to 4 %