Which of the following economic lessons should we take from developing country crises in Latin America (and elsewhere)?
A) Only that it is important to choose the right exchange rate regime.
B) Only that banking is of central importance in any government.
C) The order in which reform measures are implemented are irrelevant.
D) It is important to choose the right exchange rate regime and banking is of central importance in any government.
E) The order in which reform measures are implemented are irrelevant and banking is of central importance in any government.
D
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Assume the price of good Y with its quantity measured on the vertical axis is $100 and the price of good X with its quantity measured on the horizontal axis is $10 . If the consumer's budget is $500, then the absolute value of the slope of the budget line is:
a. 500. b. 1/10. c. 10. d. 100.
Which of the following would shift the supply of Green Bay Packers football jerseys to the left?
a. The Green Bay Packers make it to the Super Bowl. b. The price of the jerseys increases by $15. c. The technology of sewing machines use to make the jerseys improves. d. The cost of the fabric used to make the jerseys increases.
Suppose a firm's total revenue is $100 when it sells 10 units, and $110 when it sells 11 units. The firm, therefore, is a(n):
A. oligopolist. B. monopolistic competitor. C. pure monopolist. D. perfect competitor.
The phase of the business cycle where real domestic output is at a minimum is called
What will be an ideal response?