For countries with high seigniorage returns, we expect
A) PPP holding better.
B) a high and variable inflation rate.
C) a smaller role for their currencies as an international store of value.
D) All of the above.
D
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If production involves decreasing opportunity cost, the production possibilities frontier
A. is “bowed inward.” B. is a straight line. C. is “bowed outward.” D. is a wavy line. E. has an unpredictable shape.
What are intermediate goods? Why do economists exclude the value of intermediate goods while calculating national income?
The Fed changes the discount rate as part of its policy to reach all of the following objectives except
A. Price stability B. High employment C. Economic growth
The vertical distance between the horizontal axis and any point on a nondiscriminating monopolist's demand curve measures:
A. the quantity demanded. B. product price and marginal revenue. C. total revenue. D. product price and average revenue.