The rate at which two currencies can be traded for each other is called the ________ exchange rate.
A. real
B. fixed
C. nominal
D. flexible
Answer: C
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Refer to Figure 1-1. Using the information in the figure above, calculate the percentage change in sales of alcoholic beverages between 2012 and 2016
A) 30% B) 50% C) 66.7% D) 100%
One of the main roles of a central bank is:
A. managing the nation's money supply. B. coordinating the relationship between banking system and federal government. C. ensuring that banks provide enough loans. D. monitoring federal spending.
Which of the following is a statement of positive economics? a. New tax laws are needed to help the poor
b. Teenage unemployment should be reduced. c. We should increase Social Security payments to the elderly. d. An increase in tax rates will reduce unemployment.
According to the Laffer curve
A. an increase in tax rates will have an inconsistent effect on tax revenues. B. a decrease in tax rates will always increases tax revenues. C. an increase in tax rates will always increase tax revenues. D. a decrease in tax rates will always decrease tax revenues.