If $2 = 1 euro, then the equivalent U.S. dollar price of a vase selling for 30 euros in France is ______.
a. $10
b. $15
c. $30
d. $60
d. $60
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According to real business cycle theorists, in modern times, economic fluctuations can largely be attributed to
A) the entry of more college graduates in the labor market. B) advancements in technology. C) large scale unemployment. D) immigration policies that increased the supply of labor.
When a firm sets a price relatively low in order to increase the market share, it is referred as
A) price skimming. B) limit pricing. C) penetration pricing. D) predatory pricing.
Suppose this customer is known to throw a fit and scare away other customers if charged high prices. If the shopkeeper moves first, he would ask for
a. A high price b. A low price c. A pony d. All of the above
Assume the government decides to reduce spending in order to reduce the budget deficit, which it financed by borrowing in the real credit market. Where and how should you begin your analysis when analyzing the chain reaction of economic interactions?
a. Start the analysis in the real goods market with aggregate demand shifting to the left. b. Start the analysis in the real goods market with aggregate demand shifting to the right. c. Start the analysis in the real goods market with aggregate supply shifting to the left. d. Start the analysis in the real goods market with aggregate supply shifting to the right. e. Start the analysis in the real credit market with demand for real credit shifting to the left.