The Eurocurrency market is limited to exchanges that include the euro.
a. true
b. false
b. false
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The branch of economics that focuses on decision making for the economy as a whole is called:
a. normative economics. b. macroeconomics. c. microeconomics. d. consumer economics.
Which of these statements does not apply to market economies?
a. Prices prevent decentralized decision making from degenerating into chaos. b. Prices coordinate the actions of millions of people with varying abilities and desires. c. Prices ensure that anyone who wants a product can get it. d. Prices ensure that what needs to get done does in fact get done.
The workers' perceived real wage rate is:
a. their nominal wage rate divided by the actual price level. b. their nominal wage rate divided by the expected price level. c. the actual price level divided by their nominal wage rate. d. the expected price level divided by their nominal wage rate.
Which of the following is not an assumption of perfect competition?
A. Powerful buyers B. Freedom of exit C. Identical (or indistinguishable) products D. Freedom of entry