Entrepreneurs
A) and managers are found on the same organizational level.
B) are usually found in small firms.
C) are usually found in larger firms in order to access financial capital.
D) are found in firms of all sizes.
B
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Which of the following is NOT a monetary policy tool?
A) last resort loans B) open market operations C) required reserve ratio D) federal funds rate
An increase in the price of an input to a perfectly competitive industry will: a. increase price and reduce the number of firms
b. increase price and increase the number of firms. c. increase price and have an ambiguous effect on the number of firms. d. reduce the number of firms and have an ambiguous effect on price.
Suppose a local union has a contract that calls for the nominal wage to increase by 5 percent plus 100 percent of any increase in the CPI. If the CPI increases by 4% and there is a 1% positive bias in the inflation rate, by how much would nominal wages unnecessarily increase?
a. 9 percent b. 1 percent c. 5 percent d. 3 percent e. 4 percent
The purchasing power parity theory is useful in making ____ predictions about exchange rates and their fluctuations
a. long-run b. intermediate-run c. medium-run d. short-run