The velocity of circulation has remained constant over long periods of time
a. True
b. False
Indicate whether the statement is true or false
False
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If the nominal exchange rate rises 5%, domestic inflation is 2%, and foreign inflation is 3%, what is the percent change in the real exchange rate?
A) 8% B) 6% C) 4% D) 2%
The Coase Theorem states that _____
a. in the absence of transactions costs, the allocation of resource will be independent of property right assignment b. in the absence of transactions costs, the allocation of resources will be dependent on property right assignment c. with transactions costs, the allocation of resources will be independent of property right assignment d. with transactions costs, the allocation of resources will be dependent of property right assignment
In general, a dry cleaner in a small town is ______________ likely to be unethical in his business practices than a dry cleaner in a large city. This is because the larger a percentage of the population one person is, the _____________likely that person will have to further engage with people he encounters
A) more; less B) less; less C) more; more D) less; more
Because of ________, the market will provide ________ the socially optimal level of information.
A. the problem of adverse selection; less B. moral hazard; more C. the credibility problem; more D. the free-rider problem; less