A nation's official reserves:
A. compensate for differences in the current and capital and financial accounts.
B. consist of all domestic and foreign currency held by a nation's central bank.
C. are always zero.
D. are always negative.
A. compensate for differences in the current and capital and financial accounts.
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Figure 3-5
At present, faculty in the Economics Department teach introductory and upper-level courses. Which graph in Figure 3-5 represents the change in the production possibilities of the Economics Department after a policy of using graduate students in addition to faculty to teach introductory sections was implemented?
A. 1 B. 2 C. 3 D. 4
When there is a binding price floor
A) there is no equilibrium. B) the quantity demanded does not equal the quantity supplied. C) all potential producers are happy because they can sell the good at a higher price. D) the government is helping consumers at the expense of producers.
Active policy making would include all of the following EXCEPT
A) interest rate changes by the Fed. B) tax increases. C) unemployment insurance benefits. D) increased government spending by the Congress.
Which of the following is a necessary condition for price discrimination?
a. The seller must be able to divide the markets according to the different price elasticities of demand. b. It must be difficult for one buyer to resell to another buyer. c. Both a and b. d. Neither a nor b.