The term ceteris paribus means
A) the greatest good for all.
B) the study of scarcity and choice.
C) all other things remaining constant or equal.
D) value-free and testable.
Answer: C
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If the current exchange rate is 1.00 euro per dollar and the expected exchange rate at the end of the month rises to 1.20 euros per dollar, then the demand for dollars ________ because people expect holding of dollars to become ________ profitable
A) decreases; more B) increases; less C) increases; more D) does not change; neither more nor less E) decreases; less
A small increase in the annual rate of economic growth can lead to a larger increase in growth over time due to the effects of
A) the money supply. B) compounding. C) regression towards the mean. D) averaging.
The only mineral that was available in any significant quantity in colonial America was:
a. Gold. b. Silver. c. Iron. d. Coal.
Velocity represents the average number of times that a dollar is used in purchasing final goods and services in a one-year period
a. True b. False Indicate whether the statement is true or false