Discrimination is generally easy to detect on a case-by-case basis because the circumstances surrounding the decision to discriminate are rarely subjective
Indicate whether the statement is true or false
FALSE
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The demand for the Franconian franc in the foreign exchange market equals 14,000 - 3,000e and the supply of francs in the foreign exchange market equals 2,000 + 2,000e, where e is the nominal exchange rate expressed in U.S. dollars per franc. If the franc is fixed at 2 U.S. dollars per franc, then to maintain this fixed rate Franconia's international reserves must:
A. decrease by 4,000 dollars per period. B. increase by 4,000 dollars per period. C. decrease by 2,000 dollars per period. D. increase by 2,000 dollars per period.
Starting from long-run equilibrium, a large tax increase will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. recessionary; lower; potential B. expansionary; lower; potential C. expansionary; higher; potential D. recessionary; lower; lower
The Federal Reserve System is the
A) federal government agency that collects taxes and spends these receipts on tanks, bridges, government employees' salaries, etc. B) company that delivers packages to your front door. C) central bank of the United States. D) federal government agency that collects and disseminates all the economic data that economists are interested in.
Deadweight losses occur when the quantity of an output produced is:
A. less than, but not when it is greater than, the competitive equilibrium quantity B. greater than, but not when it is less than, the competitive equilibrium quantity C. less than or greater than the competitive equilibrium quantity D. such that the marginal benefit of the output is just equal to the marginal cost