A permanent shift in the foreign exchange market supply and demand curves such that the fixed exchange rate is no longer an equilibrium rate is referred to as:
a. permanent devaluation.
b. speculative disequilibrium.
c. permanent revaluation.
d. speculative equilibrium.
e. fundamental disequilibrium.
e
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If net exports increase by 100 and the mpc is 0.75, equilibrium aggregate output increases by
A) 100. B) 250. C) 400. D) 750.
Which of the following describes the relationship between the actual federal funds rate and that suggested by Taylor's rule following the recovery from the 2001 recession?
A) The federal funds rate was above that suggested by Taylor's rule. B) The federal funds rate was below that suggested by Taylor's rule. C) The federal funds rate was about equal to that suggested by Taylor's rule. D) There was not a clear relationship between the federal funds rate and that suggested by Taylor's rule.
Acme Steel Co produces 1000 tons of steel. Steel sells for $30 per ton. Acme pays wages of $10,000. Acme buys $15,000 worth of coal, which is needed to produce the steel. Acme pays $2,000 in taxes. Acme's profit is
A) $0. B) $2,000. C) $3,000. D) $15,000.
Which form of business organization is the least common in the United States?
a. sole proprietorship b. partnership c. corporation d. nonprofit organization e. conglomerate