The quantity demanded is always equal to the quantity supplied
Indicate whether the statement is true or false
F
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Some form of financial distress can become a full-blown recession if risk lead to ____ interest rates and ____ aggregate demand
a. higher; increased b. higher; decreased c. lower; increased d. lower; decreased
When policymakers set prices by legal decree, they
a. are usually following the advice of mainstream economists. b. improve the organization of economic activity. c. obscure the signals that normally guide the allocation of society's resources. d. are demonstrating a willingness to sacrifice fairness for the sake of a gain in efficiency.
If you are at an all-you-can-eat buffet dinner and you are considering whether to eat another dessert, you, as a rational consumer should decide to eat the desert
A. no matter what because you want to get more for your money. B. if it brings you more pleasure than the price you paid for the meal. C. if it brings you any pleasure at all. D. if it brings you as much pleasure as the desert costs if it is ordered a la carte.
Central banks control exchange rates by intervention. If a nation such as Japan wished to peg its market rate at a certain level, such as ¥100 = $1, what should it do if the actual market rate began to depreciate to ¥125 = $1?
a. It should purchase dollars with its own currency. b. It should sell dollars from its treasury and retire its own currency. c. It should increase its GDP to increase exports. d. It should petition the IMF for a rate change.