Floating exchange rates are rates determined in free markets by the law of supply and demand.

Answer the following statement true (T) or false (F)


True

Economics

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Which of the following was NOT considered to have been a drawback of the pre-1914 gold standard?

A) It sometimes led to inflation, which several times in the late nineteenth century caused recessions in the United States. B) Countries had little control over their domestic monetary policies. C) Countries with trade deficits experienced deflation. D) Changes in the world money supply were strongly influenced by gold discoveries.

Economics

Swing shift Your firm prints the novelty baseball cards that candy makers include in their bubblegum. Since you regularly sell 100,000 cards per week, you invested in four separate production lines that can each produce 25,000 cards in a standard 40

hour work week. Now a few of the candy makers are increasing their orders so that you will need to produce 150,000 cards per week, at least temporarily. If you produce these cards by adding a swing shift from 4pm to midnight, you will have to pay workers time and a half. What does this imply for the shape of your short-run marginal cost curve? What does it imply for your pricing?

Economics

The term price takers refers to buyers and sellers in

a. perfectly competitive markets. b. monopolistic markets. c. markets that are regulated by the government. d. markets in which buyers cannot buy all they want and/or sellers cannot sell all they want.

Economics

Exhibit 6-9 Cost schedule for firm X OutputQuantity Total FixedCost Total VariableCost 0 $100 $    0 1   100     50 2   100     84 3   100   108 4   100   127 5   100   150 As shown in Exhibit 6-9, the average total cost of producing 5 units is:

A. $20. B. $30. C. $50. D. $250.

Economics