The exchange rate between currencies of different countries is controlled primarily by ________ in currency markets
A) the outsourcing agreements B) supply and demand
C) diplomatic relations D) tariff rates
B
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The Paradox of Value is resolved by the willingness for an individual to pay a high price for a good or service that has a high marginal utility per dollar
Indicate whether the statement is true or false
Refer to the above figure. The points between A and B are known as
A) a peak. B) a trough. C) an expansion. D) a contraction.
Correlation of the regression error across observations
A) results in incorrect OLS standard errors. B) makes the OLS estimator inconsistent, but not unbiased. C) results in correct OLS standard errors if heteroskedasticity-robust standard errors are used. D) is not a problem in cross-sections since the data can always be "reshuffled."
Monetary and fiscal policy are primarily tools for long-run economic stabilization
a. True b. False Indicate whether the statement is true or false