The price system
A. sends signals to producers.
B. sends signals to consumers.
C. is based on supply and demand.
D. All of the choices are true about the price system.
D. All of the choices are true about the price system.
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The exchange rate is the
A) opportunity cost of pursuing a nation's comparative advantage. B) price of one country's currency expressed in terms of another country's currency. C) ratio between imports and exports. D) interest rate that is charged on risk-free international capital flow.
The price index was 92 in 2014, and the inflation rate was 8.7 percent between 2013 and 2014 . The price index in 2013 was
a. 100.0. b. 100.7. c. 83.3. d. 84.6.
In 1972, one could buy a bag of chips, a pound of hamburger, a package of buns, and a small bag of charcoal for about $2.50 . If the same goods today cost $6.00, then which pair of CPIs would make the cost in today's dollars the same for both years?
a. 60 in 1972 and 150 today b. 65 in 1972 and 156 today c. 75 in 1972 and 160 today d. 90 in 1972 and 145.8 today
A closed economy
a. does not engage in international trade of goods and services. b. does not engage in international borrowing or lending. c. both A and B d. engages in international borrowing and lending.