In a fixed exchange rate system
A) market forces and the country's stock of gold determine its exchange rate.
B) a central bank affects the value of a currency by changing its foreign exchange reserves.
C) market forces play a role in determining the fixed value of a currency.
D) the International Monetary Fund determines exchange rates.
B
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Adjustments in ________ take the economy from the short-run equilibrium to the long-run equilibrium
A) imports and exports B) wages and prices C) the multiplier D) interest rates
The marginal revenue product of capital inputs does not provide complete information about optimal use because capital is:
A) money. B) not an input. C) an output as well as an input. D) durable. E) all of the above
Direct taxes are levied directly on people or corporations
a. True b. False Indicate whether the statement is true or false
A year-long drought that destroys most wheat crops for the season would shift the:
A. short-run aggregate supply curve only. B. aggregate demand curve only. C. aggregate demand curve, and the short-run aggregate supply curve would shift in response. D. short-run aggregate supply curve and the long-run aggregate supply curve.