Action to reverse the effect of official intervention on the domestic money supply is called
A. sterilization.
B. a crawling peg.
C. the gold standard.
D. a parallel market.
Answer: A
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The Cobb-Douglas production function represents real GDP as a function of all of the following variables except
A) capital. B) labor. C) the price level. D) total factor productivity.
Which of the following is most likely to be sold in an oligopoly market?
A) pizza B) cell phone service C) electricity D) cotton
Tariffs and quotas are one-size-fits-all measures that work as tools to internalize external effects.
Answer the following statement true (T) or false (F)
In arriving at the quantity of output and price of its product, a company
A. chooses either output or price, and consumer demand determines the other. B. has no control over either quantity or price. C. makes two decisions by setting both optimal output and optimal price. D. generally leaves both quantity and price decisions to consumers.