If the expected future U.S. exchange rate falls, then in the foreign exchange market the current
A) supply of dollars decreases.
B) demand for dollars increases.
C) quantity supplied of dollars decreases.
D) supply of dollars increases.
E) quantity supplied of dollars increases.
D
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An information cascade occurs when:
A) the buyer of a good has more information than the seller and takes hidden actions. B) the seller of a good has more information about the hidden characteristics of the good. C) people make the same decisions as others without focusing on private information. D) people have contradictory information about a good they want to consume.
The value of the y-coordinate of a point in a graph is the length of a line from the point to the
A) origin. B) scalar. C) x-axis. D) y-axis.
With respect to consuming food and shelter, two consumers face the same prices and both claim to be in equilibrium. We therefore know that
A) they both have the same marginal utility for food. B) they both have the same marginal utility for shelter. C) they both have the same MRS of food for shelter. D) All of the above.
In the early 2000s, Chinese officials indicted members of a forgery syndicate that sold several hundred diplomas to high school graduates who needed the diplomas to take employment tests. This situation, where having the certificate of knowledge is more important than the knowledge itself, is known as:
A. the brain drain. B. human capital. C. certification. D. credentialism.