Market
What will be an ideal response?
A group of buyers and sellers of a particular good or service.
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Holding a currency to the gold standard works:
A. to the advantage of savers at the expense of borrowers. B. to the advantage of borrowers at the expense of savers. C. for no one, and hurts both savers and borrowers from access to money. D. for everyone, benefiting both savers and borrowers.
If a firm is a price taker and wants to earn as much profit as possible, it should expand output
a. to the quantity at which marginal cost is minimized. b. as long as marginal cost is less than price. c. to the quantity at which average total costs are minimized. d. to try to sell all the output it can produce so that its average fixed costs will be minimized.
The purchasing power parity theory predicts that changes in the relative price levels of two countries will affect the exchange rate in such a way that
A) one unit of a nation's currency will buy more foreign goods than it did before the change in the relative price levels. B) one unit of a nation's currency will buy fewer foreign goods than it did before the change in the relative price levels. C) one unit of a nation's currency will continue to buy the same amount of foreign goods as it did before the change in the relative price levels. D) the percentage of depreciation in one currency equals the percentage of appreciation in the other currency.
The question "What are you going to do with that major?" implicitly questions
A) how much you learn in that major. B) whether the major should be offered on campus. C) how much the market values the human capital developed in the major. D) western bias.