Referring to Figure 19.2, the effect of an increase in Japanese interest rates is represented by a movement from point
A) d to c. B) b to a. C) c to d. D) d to a.
A
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Which of the following trade agreements provides for the development of a single market among its members?
A) World Trade Organization B) European Union C) North American Free Trade Agreement D) Asian Pacific Economic Cooperation
A correlation between two variables implies that:
A) there is a cause-effect relationship between the two variables. B) it is impossible to measure one variable without measuring the other. C) there is a mutual relationship between both the variables. D) when one variable changes, the other variable always changes by exactly the same amount.
A monetarist economist believes that
A) if the economy was left alone, it would rarely operate at full employment. B) the economy is self-regulating and always at full employment. C) the economy is self-regulating and will normally, though not always, operate at full employment if monetary policy is not erratic. D) the economy is self-regulating and will normally, though not always, operate at full employment if fiscal policy is not erratic.
Firms are "price makers" if they
A) have sufficient market power to set their product price. B) make the market price their product price. C) make their product price competitive. D) None of the above