Under a floating exchange-rate system, a country needs to pay more attention to the economic policies of the rest of the world
a. True
b. False
Indicate whether the statement is true or false
False
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Fixed costs are those costs that remain fixed no matter how long the time horizon is
a. True b. False Indicate whether the statement is true or false
Which of the following best explains why both nations with high living standards and nations with low living standards face the problem of scarcity?
a. All nations face the same microeconomic issues. b. All nations face the same macroeconomic issues. c. All individuals, whether rich or poor, are dissatisfied with their material well-being and would like more. d. all of the above options are correct.
The percentage change in the quantity of peanut butter demanded divided by the percentage change in price of jelly measures:
A. the price elasticity of demand for peanut butter. B. the price elasticity of demand for jelly. C. the cross-price elasticity of demand for peanut butter with respect to the price of jelly. D. the cross-price elasticity of demand for jelly with respect to the price of peanut butter.
Following adjustments to a new equilibrium in a market, the equilibrium quantity remains unchanged, but the market clearing price is now lower. Which of the following could definitely have caused this outcome?
A. Demand decreased, and supply increased. B. Demand and supply both increased. C. Demand increased, and supply decreased. D. Demand and supply both decreased.