Which of the following define ceteris paribus? (check all that apply)
a. "Additional" factors, other than those under consideration, are given equal consideration.
b. Other-things-equal assumption
c. "Additional" factors, other than those under consideration, play a significant role in analysis.
d. Factors other than those being considered in a particular analysis do not change.
b. Other-things-equal assumption
d. Factors other than those being considered in a particular analysis do not change.
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If the Fed’s monetary policy causes a substantial decrease in interest rates, what is the most likely impact on velocity?
A. Velocity will decrease. B. Velocity will increase. C. Velocity will remain constant. D. Velocity is unrelated to interest rates.
If it is easy to uncover buy and sell orders above and below current transactions prices, a market is said to
A) be primary. B) lack breadth. C) be deep. D) be resilient.
You are reading a newspaper article that refers to expansions and contractions in the economy. The references are to changes in
a. wage rates b. inflation rates c. movements in exchange rates d. real GDP e. investment expectations
Suppose Russia exports sunflower seeds to Ireland and imports coffee from Brazil. This situation suggests
a. Russia has a comparative advantage over Brazil in producing coffee, and Ireland has a comparative advantage over Russia in producing sunflower seeds. b. Russia has a comparative advantage over Ireland in producing sunflower seeds, and Brazil has a comparative advantage over Russia in producing coffee. c. Russia has an absolute advantage over Ireland in producing sunflower seeds, and Brazil has an absolute advantage over Russia in producing coffee. d. Russia has an absolute advantage over Brazil in producing coffee, and Ireland has an absolute advantage over Russia in producing sunflower seeds.