Agriculture is an example of
A) perfect competition.
B) oligopoly.
C) monopoly.
D) monopolistic competition.
Answer: A
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Fisheria is a country in which the quantity theory of money operates. The country has a constant population, capital stock, and technology
In 2010, real GDP was $300 million, the quantity of money was $60, and the velocity of circulation of money was 10. In 2015, the price level rose by 20 percent. a) What was the price level in 2014? (The price level is measured by the GDP deflator, which is 100 in the base year. So the price level from the equation of exchange needs to be multiplied by 100 to convert it to the GDP deflator.) b) What was real GDP in 2015? c) What was the velocity of circulation in 2015? d) What was the quantity of money in 2015?
Some economists argue that unemployment compensation increases the natural rate of unemployment because it increases the amount of time people spending finding new work while without work
Additionally, it makes unemployment more visible with the steady growth in urbanization. Indicate whether the statement is true or false
Which of the following statements about the Euro's exchange rates with Sterling and the U.S. Dollar is true?
(a) The Euro is above parity with both Sterling and the Dollar; (b) The Euro is below parity with the Dollar and above parity with Sterling; (c) The Euro is below parity with Sterling and above parity with the Dollar; (d) The Euro is below parity with both Sterling and the Dollar.
Historically, the effect of economic growth generally has been to make:
A. the poor poorer and the rich richer. B. the rich richer but not affect the poor. C. the poor richer and the rich poorer. D. all income levels richer.