A "flight to quality" in global asset markets in September and October 2008 caused an increase in the demand for ________
A) emerging-market equities
B) luxury automobiles
C) dollar assets
D) blue-chip stocks
C
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When a group of workers forms a union, they introduce an element of
A) pure competition into the labor market. B) monopoly into the labor market. C) monopoly into the product market. D) monopsony into the product market.
When prices at Wendy's rise, more consumers buy their meals at McDonald's and fewer consumers buy their meals at Wendy's. This is an example of
A) commodity substitution. B) outlet substitution. C) consumers' action to boycott Wendy's. D) both A and B. E) both B and C.
Last year the Olsen family earned $70,000. This year their income is $77,000. In an economy with an inflation rate of 8 percent, we can conclude that the Olsen's nominal income:
A. and real income both increased. B. and real income both decreased. C. increased, but their real income decreased. D. decreased, but their real income increased.
Suppose the dollar-euro exchange rate falls. Then
A. the dollar is less valuable relative to the euro. B. French firms will import more from the United States into France. C. U.S. firms will export less to France. D. the euro is more valuable relative to the dollar.