Macroeconomics involves the study of the decision-making of individual firms or individuals.
Answer the following statement true (T) or false (F)
False
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Holding everything else constant, the U.S. real exchange with Australia will increase if inflation is higher in the United States than in Australia
Indicate whether the statement is true or false
A minimum wage that is less than the prevailing market wage will:
A. have no effect on the market. B. increase unemployment. C. increases wages. D. reduce wages.
Refer to the diagram. The initial demand for and supply of pesos are shown by D 1 and S 1 . Suppose the United States reduces its imports of Mexican goods, shifting its demand for pesos from D 1 to D 2 . Under a system of freely floating exchange rates:
A. gold would flow from Mexico to the United States.
B. the peso price of dollars would rise from B pesos equals $1 to A pesos equals $1.
C. a problem of rationing a shortage of pesos would arise in the United States.
D. the dollar price of pesos would increase to C dollars equals 1 peso.
Economic efficiency and income equality are often conflicting goals in an economy
a. True b. False Indicate whether the statement is true or false