What happened to the peso when the Argentine government succumbed to the market forces in 2002?
A. Revalued
B. Devalued
C. Depreciated
D. Appreciated
Answer: C
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Looking at historical evidence for the United States and other countries, which of the following are TRUE?
I. There is a correlation between the growth rate of the quantity theory of money and the growth rate of real GDP. II. There is a correlation between the growth rate of the quantity theory of money and the inflation rate. A) Only I is true. B) Only II is true. C) Both I and II are true. D) Neither I or II is true.
A few economies have the interesting characteristic that exports are more than 100 percent of the economy's GDP. How is this possible?
What will be an ideal response?
A monopoly's economic profits are represented by:
a. (price minus marginal cost) times number of units sold. b. (price minus average cost) times number of units sold. c. (marginal revenue minus price) times number of units sold. d. (marginal cost minus price) times number of units sold.
Answer the following statement(s) true (T) or false (F)
1. Price controls are always implemented by the federal government. 2. The controlled rents for existing occupants are generally well below market rental rates. 3. The main argument for minimum wage is that it allows low-income workers to live better. 4. Price ceilings on gasoline lead to surpluses of this product.