Most of the major currencies have had a floating exchange rate system since
A) 1973.
B) 1944.
C) 1956.
D) 1971.
A
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Which of the following is NOT a reason that people tend to deposit their funds with banks rather than lend their funds directly to other individuals?
A) asymmetric information problems B) adverse selection problems C) moral hazard problems D) liquidity problems
The ________ of the 1968 tax surcharge led to the prominence of the developer of the permanent-income hypothesis that predicted it, ________
A) success, Walter Heller B) success, Milton Friedman C) failure, Walter Heller D) failure, Milton Friedman
If one is interested in knowing whether or not a product is a normal good, one would be interested in the value of the: a. elasticity of supply
b. price elasticity of demand. c. income elasticity of demand. d. cross-price elasticity of demand.
The bigger the arc in the utility curve, the _________ the utility an individual obtains from a certain outcome as opposed to the ________________ from an uncertain gamble with the same expected payoff.
Fill in the blank(s) with the appropriate word(s).