An exchange rate that is set by official government policy is called a ________ exchange rate.
A. nominal
B. flexible
C. real
D. fixed
Answer: D
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Refer to the scenario above. If Aqua Inc charges a price of $70 for each unit of Good A while Blu Corp . charges a price of $50, Blu Corp . will face a demand of ________ units
A) 1,000 B) 1,500 C) 2,000 D) 3,000
Using the notation Pt to designate this period's price level and Pt-1 to designate last period's price level, the formula for measuring the inflation rate from last period to this period is
A) [(Pt - Pt - 1 ) / Pt] × 100. B) [(Pt -1 - Pt) / Pt - 1] × 100. C) [(Pt - Pt - 1 ) / Pt - 1] × 100. D) [(Pt -1 - Pt) / Pt] × 100.
Suppose that M = 300, P = 150, and Y = 6. Then the velocity of circulation equals
A) 0.02. B) 0.50. C) 2.00. D) 3.00.
For a monopolist, there is no supply curve because
a. the supply curve is the same as the marginal cost curve b. the monopolist does not maximize profit c. the quantity supplied is independent of marginal cost d. the quantity supplied is independent of demand e. there is no unique relationship between price and quantity supplied