Some central banks pursue price stability before they pursue other goals. Which of the following central banks have this kind of hierarchical mandate?
i. Bank of England
ii. Bank of Canada
iii. European Central Bank
iv. Federal Reserve (U.S.A.)
A) i, ii, and iv only
B) i and iii only
C) i and iv only
D) ii, iii, and iv only
E) none of the above
E
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Refer to the figure above. If the government fixes a minimum wage rate at $15, the unemployment in the market will be:
A) 20 units of labor B) 0 units of labor C) 10 units of labor D) 30 units of labor
A demand curve illustrates;
(a) The relationship between the price of a good and the amount of that good that consumers are willing and able to buy. (b) The interaction of equilibrium price and equilibrium quantity. (c) How consumer behaviour changes in response to advertising. (d) The amount of a good that is supplied at every price.
Floating exchange rates
A. float according to the laws of supply and demand. B. are fixed by speculators in foreign exchange markets. C. are rarely used in foreign exchange transactions. D. All of the choices are true characteristics.
Suppose there are three power-generating plants, each of which has access to 5 different production processes. The table below summarizes the cost of each production process and the corresponding number of tons of smoke emitted each. Process(smoke/day) A(4 tons/day) B(3 tons/day) C(2 tons/day) D(1 ton/day) E(0 tons/day) Cost to Firm X ($/day) $500$514$530$555$585 Cost to Firm Y ($/day) $400$420$445$480 $520Cost to Firm z ($/day) $300$325$360$400 $550It would cost Firm X ________ to reduce emissions by one ton if it currently emits 3 tons, and ________ to reduce emissions by one ton if it currently emits 2 tons.
A. $14; $25 B. $14; $16 C. $30; $55 D. $16; $25