Which currency is most commonly traded?
What will be an ideal response?
The U.S. dollar
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Explain what allocation efficiency is and how it is achieved in pure competition
What will be an ideal response?
Suppose that a specific tax of $3 is imposed on producers of bread. The bread market supply is Qs = 10 + 0.5P and the bread market demand is Qd = 100-P. What is the producers' tax burden?
A) Producers' tax burden is $1.30. B) Producers' tax burden is $3.00. C) Producers' tax burden is $2.00. D) Producers' tax burden is $2.30
If GDP decreases, there will initially be
A) a surplus of money and the equilibrium interest rate will rise. B) a surplus of money and the equilibrium interest rate will fall. C) a shortage of money and the equilibrium interest rate will rise. D) a shortage of money and the equilibrium interest rate will fall.
If the exchange rate falls from 120 yen per dollar to 110 yen per dollar, the dollar has depreciated
Indicate whether the statement is true or false