The demand curve for reserves is:
A) downward sloping. B) upward sloping.
C) vertical. D) horizontal.
A
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RBC theorists claim that adverse supply shocks can take forms other than rising raw materials prices. One such shock comes from government policy:
A) reductions in government expenditure. B) increases in tax rates. C) more rigorous environmental regulation. D) reductions in the money growth rate.
If the price of pork chops falls from $8 to $6, and this leads to an increase in demand for apple sauce from 100 to 140 jars, what is the cross-price elasticity of apple sauce and pork chops at a pork chop price of $6?
A. -1.17 B. 2.71 C. 0.42 D. -0.86
The exchange rate is the
A. Balance-of-trade ratio of one country to another. B. Opportunity cost at which goods are produced domestically. C. Amount of currency that can be purchased with one ounce of gold. D. Price of one country's currency expressed in terms of another country's currency.
In calculating the unemployment rate, part-time workers are:
A. included in the labor force but not the unemployment rate. B. counted as unemployed because they are not working full time. C. counted as employed because they are receiving payment for work. D. excluded from the labor force because they are not actively seeking employment.