If the structural stagnation hypothesis is true, what happened to the economy in the early 2000s that made it prone to a financial crisis?
A. Too-expansionary supply-side policies
B. Increased trade restrictions
C. Too-expansionary demand-side policies
D. Slowing technological advance
Answer: C
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The long run is a period of time in which
A) all factors of production are variable. B) all factors of production are fixed. C) some but not all factors of production are fixed. D) some but not all factors of production are variable.
A new model of a racecar manufactured in Germany sells successfully in China. This will cause the:
a. euro to appreciate against the Chinese Yuan. b. euro to devaluate against the Chinese Yuan. c. Chinese Yuan to appreciate against the euro. d. Chinese Yuan to devaluate against the euro.
If the government chooses not to buy or sell foreign currencies, it has a:
A. flexible exchange rate. B. fixed exchange rate. C. gold standard. D. partially-flexible exchange rate.
Cross elasticity of demand is:
A. Negative for complementary goods B. Negative for substitute goods C. Unitary for inferior goods D. Positive for inferior goods