A freeze on wages and prices was introduced by President
A. Franklin Delano Roosevelt.
B. Harry S. Truman.
C. Dwight D. Eisenhower.
D. John F. Kennedy.
A. Franklin Delano Roosevelt.
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If a firm supplies 200 units at a price of $50 and 100 units at a price of $40, using the midpoint method, what is the price elasticity of supply?
A) 0.33 B) 1.00 C) 3.00 D) 5.00 E) 8.50
For price-taking producers, isoprofit curves are always parallel to one another.
Answer the following statement true (T) or false (F)
When the Federal Reserve uses open-market operations to raise the Federal funds rate several times over a year, it is pursuing:
a. A Taylor rule policy b. An expansionary money policy c. A prime interest rate policy d. A restrictive money policy
The demand for euros in the foreign exchange market equals 8,000 - 2,000 e and the supply of euros in the foreign exchange market equals 3,000 + 3,000 e, where e is the nominal exchange rate expressed in U.S. dollars per euro. If the euro is fixed at 1.25 U.S. dollars per euro, then the euro is ________ and Euroland has a balance-of-payments ________.
A. undervalued; surplus of 1,250 euros B. overvalued; surplus of 1,250 euros C. overvalued; deficit of 1,250 euros D. undervalued; deficit of 1,250 euros