According to the text, over 40 percent of member nations of the International Monetary Fund have
A. a managed floating exchange rate.
B. an independently floating exchange rate.
C. a fixed exchange rate.
D. no separate legal currency.
Answer: C
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Suppose that when the price of hamburgers decreases, the Landry family decreases their purchases of chicken nuggets. To the Landry family
A) hamburgers and chicken nuggets are normal goods. B) hamburgers and chicken nuggets are inferior goods. C) hamburgers and chicken nuggets are substitutes. D) hamburgers and chicken nuggets are complements.
Changes in the macro environment affect individual firms and industries through the microeconomic factors of demand, production, cost, and profitability
Indicate whether the statement is true or false
Keynesian macroeconomists argue that the short-run Phillips curve ________ represent a usable trade-off for policymakers because ________
A) does; prices are sticky B) does; prices are not sticky C) does not; prices are not sticky D) does not; prices are sticky
If the demand for a good is very price elastic, the imposition of a tax on that good
a. places the largest portion of the burden on the sellers of that product b. places the burden of the tax equally on buyers and sellers c. places the largest portion of the tax on consumers d. will make demand more elastic than it was before the tax e. will make demand more inelastic than it was before the tax