Microeconomics focuses on ____; macroeconomics concentrates on ____
a. the basic tools of analysis; the use of abstractions and models
b. the economies of various countries; the decisions of individual companies
c. the decisions of individual units; the behavior of entire economies
d. the economic aggregates; the decisions of individual units
c
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The ________ states that exchange rates between any two currencies will adjust to reflect changes in the price levels of the two countries
A) theory of purchasing power parity B) law of one price C) theory of money neutrality D) quantity theory of money
Refer to Figure 14.1. Other things equal, an increase in the Fed's concern about deviations of inflation from the target inflation rate is best represented as a movement from
A) point X to point Z. B) point Z to point X. C) point Z to point Y. D) point Y to point X.
Stores need not accept your check but must accept currency because:
a. currency is backed by gold b. checks are not money but currency is. c. currency is legal tender, but checks are not. d. currency is easier to handle. e. currency is a medium of exchange, but checks are not.
Which of the following financial institutions declared bankruptcy as a result of the financial crisis of 2007 and 2008?
A. Merrill Lynch B. Lehman Brothers C. Goldman Sachs D. AIG