It is sometime useful to view each step in the supply chain as a(n)
A) single market.
B) integrated process.
C) horizontal process.
D) vertical process.
A
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The real interest rate
A) can never be negative. B) is approximately equal to the nominal interest rate plus the inflation rate. C) is approximately equal to the nominal interest rate minus the inflation rate. D) is positively related to the inflation rate.
Suppose the Asian financial crisis decreased U.S. exports. In the aggregate demand/aggregate supply model, this would be represented as
A) a shift to the right of aggregate supply, which would result in more production for the U.S. economy. B) a shift to the left of aggregate supply, which would result in less production for the U.S. economy. C) a shift to the right of aggregate demand, leading to more spending and production in the U.S. economy. D) a shift to the left of aggregate demand, leading to less spending and production in the U.S. economy.
Hot dogs and hot dog buns would be expected to have:
A) positive income elasticities of demand with respect to each other. B) negative income elasticities of demand with respect to each other. C) a positive cross-price elasticity of demand. D) a negative cross-price elasticity of demand.
Demand for U.S. dollars by speculators is likely to increase if the dollar is expected to depreciate in the near future
a. True b. False Indicate whether the statement is true or false