In the short run, exchange rates are most directly affected by which of the following?
A) flows of financial capital
B) purchasing power parity
C) trade barriers
D) imports and exports
A
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If two large firms from different industries merge,
a. industry concentration rises b. industry concentration falls c. the total assets of the top 200 firms in the country will stay the same d. industry concentration rises in one market and falls in the other e. industry concentration is not affected
Average fixed cost is
a. the sum of variable and fixed costs b. total cost minus variable cost c. variable cost plus marginal cost d. total fixed cost per unit of output e. constant as output changes
An important difference between the situation faced by a profit-maximizing competitive price-searcher firm in the short run and the situation faced by that same firm in the long run is that in the short run,
a. price may exceed marginal revenue, but in the long run, price will equal marginal revenue. b. price may exceed marginal cost, but in the long run, price will equal marginal cost. c. price may exceed average total cost, but in the long run, price will equal average total cost. d. there are many firms in the market, but in the long run, there are only a few firms in the market.
Answer the following questions true (T) or false (F)
1. In recent years, economists have come to rely more on the establishment survey rather than the household survey to analyze current labor market statistics. 2. The labor force participation rates of men have gradually increased since 1948. 3. Eliminating frictional unemployment would be good for the economy.