International businesses like a fixed exchange-rate system because
A) they like large swings in currency values when devaluation or revaluation occur.
B) they profit by speculating on devaluation or revaluation.
C) they can plan better if they know what the exchange rate will be.
D) fixed exchange rates are economically efficient.
C
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The figure above shows the market for milk in Cowland. If a subsidy paid to producers of $1 per gallon of milk is introduced, what is the price that consumers pay?
A) $3.00 a gallon B) between $3.00 and $4.00 per gallon C) $4.00 a gallon D) between $4.00 and $5.00 per gallon
When the labor force is constant and unemployment is at its natural rate,
A) (the rate of job finding × the number of unemployed workers) = (the rate of job separation × the number of employed workers). B) (the rate of job finding × the number of employed workers) = (the rate of job separation × the number of unemployed workers). C) (the rate of job finding × the rate of job separation) = (the number of unemployed workers × the number of employed workers). D) (the rate of job finding + the rate of job separation) = (the number of unemployed workers + the number of employed workers).
Which of the following is not an example of a natural experiment an economist might use to evaluate a theory?
a. Transit ridership increased in Atlanta following an increase in gas prices. b. Federal tax revenue increased following a decrease in the tax rate. c. Students in a principles of microeconomics course are asked to play a game with classmates to determine what decisions they make under certain circumstances. d. Following the imposition of austerity measures, the growth rate of the economy in Greece slowed.
For the fall semester, you had to pay a nonrefundable fee of $600 for your meal plan, which gives you up to 150 meals. If you eat all of the meals, your average cost for a meal is:
A. $5. B. $0.25. C. $6. D. $4.