An exchange rate that varies according to supply and demand for the currency in the foreign exchange market is called a ________ exchange rate.
A. flexible
B. nominal
C. real
D. fixed
Answer: A
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The majority of new jobs created in the service sector of the U.S. economy have been in the information sector.
Answer the following statement true (T) or false (F)
A monopolistically competitive firm can minimize its losses by producing where ________ as long as ________.
A. P = ATC; P > MR B. MR = MC; P > AVC C. P = MR; P > AFC D. P = MC; P > ATC
The total value of all capital goods newly produced in a given period is
A. the change in business inventories. B. net investment. C. depreciation. D. gross investment.
Which statement is true?
A. On the production possibilities frontier, 85 percent of capital is employed. B. If we moved closer to the origin and further away from the production possibilities frontier, unemployment would increase. C. To have economic growth, we must push the production possibilities frontier outward. D. All of the statements are true.