If you were going to go on a vacation to Italy, you would prefer
A. a strong dollar against the euro.
B. a weak dollar against the euro.
C. a strong euro against the dollar.
D. a weak dollar against all currencies.
A. a strong dollar against the euro.
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In Irving Fisher's quantity theory of money, velocity was determined by
A) interest rates. B) real GDP. C) the institutions in an economy that affect individuals' transactions. D) the price level.
Voluntary free trade results in:
a. population growth. b. inflation. c. higher living standards. d. income disparity. e. unemployment.
A corrective tax: a. internalizes an externality
b. legislates what is allowable. c. increases the social costs of externalities. d. increases the deadweight loss caused by an externality.
A war in the Middle-East increases the price of oil. Suppose that the price hike holds. Over what period of time would you expect the largest change in quantity?
A. 1 month B. 1 day C. 1 week D. 1 year