A nation's monetary base changes when:
a. Central banks swap currencies with each other.
b. Funds cross our imaginary line.
c. The central bank reduces the reserve requirement.
d. All of the above.
e. None of the above.
.B
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If a market is shared equally by four firms, the Herfindahl-Hirschman Index is
A) 1/4. B) 4. C) 25. D) 2,500.
Which of the following is a stock variable:
a. Income b. Money supply c. Investment d. Profits
Which of the following best describes the agricultural sector for much of the 20th century and today?
A) high productivity, price elasticity of demand less than 1, income elasticity of demand greater than 1 B) low productivity, price elasticity of demand greater than 1, income elasticity of demand less than 1 C) high productivity, price elasticity of demand less than 1, income elasticity of demand less than 1 D) low productivity, price elasticity of demand less than 1, income elasticity of demand greater than 1
Suppose that in October the price of a cup of cafe latte was $2.50 and 400 lattes were consumed. In November the price of a latte was $2.00 and 300 lattes were consumed. What might have caused this change?
A. The price of tea (a substitute for cafe lattes) fell. B. The price of tea (a substitute for cafe lattes) rose. C. The price of coffee beans (an input of production of cafe lattes) rose. D. The price of coffee beans (an input of production of cafe lattes) fell.