Which of the following is likely to have the longest long run?
A) a beauty salon.
B) a pizza parlor.
C) a road construction firm.
D) an airline.
D
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It is not possible to have an absolute advantage in producing a good or service without having a comparative advantage
Indicate whether the statement is true or false
The nominal, effective exchange rate is the:
a. Nominal, effective exchange rate adjusted for a nation's price level relative to many foreign countries' prices. b. Value of one currency in terms of another currency. c. Weighted-average value of a currency relative to many foreign currencies. d. Nominal, bilateral exchange rate adjusted for the international price levels of the two countries.
Maximum checkable-deposit expansion in the banking system is equal to:
A. Actual reserves minus required reserves B. Assets plus net worth and liabilities C. Excess reserves times the monetary multiplier D. Excess reserves divided by the monetary multiplier
Refer to the graphs above. Suppose a firm is currently producing 500 computers per week and charging a price of $1000. How will the firm respond to a negative demand shock if prices are flexible?
A.
The firm will continue to produce 500 computers per week and charge a price of $600
B.
The firm will continue to produce 500 computers per week and charge a price of $1200
C.
The firm will cut production to 300 computers per week and charge a price of $1000
D.
The firm will cut production to 300 computers per week and charge a price of $600