A central bank commitment to a ________ rule for monetary growth can be conveyed by maintaining a ________ exchange rate
A) rigid, fixed
B) rigid, flexible
C) flexible, fixed
D) non-inflationary, flexible
A
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Which of the following is a normative concept?
a. Nash equilibrium. b. Stackelberg equilibrium. c. Pareto optimality. d. Nash equilibrium, Stackelberg equilibrium, and Pareto optimality are all normative concepts.
Of the following, pick the year the U.S. enjoyed a budget surplus
A) 1970 B) 1980 C) 1990 D) 2000 E) 2010
Gasoline and heating oil are examples of products which are
A) joint products in fixed proportions. B) joint products in variable proportions. C) joint products that are complements. D) unrelated to each other.
The number of sellers in a market is considered to be large when
a. the total exceeds 100 b. no single buyer can affect the price through his or her demand for the product c. they cannot be easily counted d. no single seller can affect the price by changing its level of output e. no seller controls more than 20 percent of the total market supply