Central banks often find:
A. they must keep their goals secret or else they cannot be attained.
B. there are tradeoffs that make pursuing all of their goals simultaneously impossible.
C. the goal(s) they pursue will be determined by their profitability.
D. they can efficiently pursue all of their goals simultaneously.
Answer: B
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The equation of exchange states that the price level is equal to
A) the quantity of money. B) velocity of circulation multiplied by the quantity of money divided by real GDP. C) real GDP multiplied by the velocity of circulation divided by nominal GDP. D) the velocity of circulation.
Many car owners and car dealers describe their different cars for sale in the local newspapers and list their asking price. Many people shopping for a used car consider the different choices listed in the paper
The market for used cars could be described as A) relatively competitive. B) perfectly competitive. C) non-competitive. D) having high transaction costs.
Graphically, consumer surplus is the area:
a. above the demand curve. b. below the supply curve. c. under the demand curve and the supply curve. d. above the market supply curve and under the equilibrium price. e. under the market demand curve and above the equilibrium price.
An insurance company finds that it insured an adverse selection of largely ill patients. It is forced to increase insurance premiums to reduce losses. How does this aggravate the adverse selection problem?