The exchange rate of a currency will increase if the quantity demanded exceeds quantity supplied at the current exchange rate
a. True
b. False
Indicate whether the statement is true or false
True
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Firms
A) have no influence on the circular flow in a market economy. B) purchase resources in the product market. C) sell resources in the factor market. D) sell goods in the product market.
Futures trading practices in the United States are regulated by
A) the Chicago Board of Trade. B) the Chicago Mercantile Exchange. C) the Commodities Futures Trading Commission. D) the Board of Futures Trading.
The average number of times per year each dollar is used to transact an exchange is known as the:
a. liquidity of money. b. velocity of money. c. quantity theory of money. d. equation of exchange e. rapidity index
Which is not a property of an optimal efficiency wage?
A. Any structural unemployment that results from an efficiency wage is efficient for the economy as it helps sort nonshirkers and shirkers into good and bad jobs, respectively. B. There is involuntary unemployment. C. The efficiency wage is higher than the competitive wage. D. Employment will be less with an efficiency wage than with a competitive wage. E. Employed workers will not shirk on the job.