The vital link between the real and monetary sectors of the economy is the:
A) price level.
B) interest rate.
C) balance of payments.
D) budget deficit.
B
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Refer to the table above. ________ has the comparative advantage in making pies and ________ the comparative advantage in making cakes. Time to Make a PieTime to Make a CakeMartha60 minutes80 minutesJulia50 minutes60 minutes
A. Julia; Martha B. Martha; Julia C. Julia; Julia D. Martha; Martha
Bid-rigging is more likely when
a. auctions are larger b. auctions are infrequent c. auctions generate different sets of potential bidders d. the auctioneer is paid a fixed fee rather than on commission
The ___________ balance measures the gap between a country’s exports and its imports.
a. trade b. import c. export d. deficit
Perfectly inelastic demand means that consumers
A) are willing to buy any quantity of the good at a given price, but none at higher prices. B) decrease their consumption as price rises. C) increase their consumption as price rises. D) will buy a certain quantity, regardless of price. E) will buy a huge, almost infinite amount more, if the price falls just a little.