The market for buying and selling foreign currencies is often referred to as the market for:
A. foreign exchange.
B. loanable funds.
C. direct foreign investment.
D. international trade.
Answer: A
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If two goods are substitutes, a decrease in the price of one will result in an increase in demand for the other.
a. true b. false
Monetary policy can affect real variables in the short run if monetary policy:
a. surprises households. b. is unpredictable. c. is random. d. all of the above.
Which of the following is an indicator of how much output the average person would get if all output were divided up evenly among the population?
A. Real GDP. B. GDP deflator. C. Nominal GDP. D. Per capita GDP.
If the unemployment rate decreases from 9% to 6%, the economy will
A. move away from the ppf toward the origin. B. remain on the ppf. C. remain on the origin. D. move closer to a point on the ppf.