All of the following are aspects of macroeconomics EXCEPT
A) the U.S. unemployment rate.
B) the production decisions of a pharmaceutical firm.
C) the budget deficit of the United States.
D) foreign trade.
Answer: B
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If people assume that future rates of inflation will follow the pattern of inflation rates in the past, they are said to have
A) rational expectations. B) accommodative expectations. C) unstable expectations. D) adaptive expectations.
If the foreign exchange rate is 70 cents for one Swiss franc, then
A) a car that costs 40,000 francs will cost $7,143.00. B) a wine that costs 200 francs will cost $14.00. C) a clock that costs 500 francs will cost $350.00. D) a house that costs 100,000 francs will cost $700,000.00.
The major problem with using strawberries as money is the problem of
a. homogeneity b. divisibility c. portability d. durability e. scarcity or abundance
Other things the same, the real exchange rate between American and Chinese goods would be higher if
a. prices of Chinese goods were higher, or the number of yuan a dollar purchased was higher. b. prices of Chinese goods were higher, or the number of yuan a dollar purchased was lower. c. prices of Chinese goods were lower, or the number of yuan a dollar purchased was higher. d. prices of Chinese goods were lower, or the number of yuan a dollar purchased was lower.