A persistent shortage of yen at a given fixed exchange rate (in dollars per yen) is evidence that the yen is ________ versus the dollar. This shortage can be reduced or eliminated through a ________ of the yen
A) overvalued; revaluation B) undervalued; devaluation
C) overvalued; devaluation D) undervalued; revaluation
D
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A critical assumption is one
a. that affects a model in important ways b. that is understood only by economists c. that makes a model simpler without affecting any of its important conclusions d. with negative implications for a process or outcome e. that is critically unreasonable
Which of the following best satisfies the five prerequisites of money?
a. river-rounded stones b. bananas c. hardwood trees d. bricks e. silver
Employers near military bases are aware that wives generally accompany their servicemen husbands when they are transferred. When presented with nonservice-wife applicants and wives of servicemen, they hire the nonservice-wife applicants. This is an example of
a. gender discrimination. b. statistical discrimination. c. economic discrimination. d. prejudicial discrimination.
The payroll tax represents
a. the largest source of revenue in the federal budget. b. the second largest source of revenue in the federal budget. c. the third largest source of revenue in the federal budget. d. the largest source of revenue in state government budgets.