Price controls are usually enacted in response to
a. popular opinion.
b. governmental studies.
c. scholarly research on the effects of high prices.
d. laws enacted in other countries.
e. All of the above are correct.
a
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Because of the lag of the effects of changes in monetary policy and the failure of forecasters to anticipate supply-side shocks as well as changes in money demand or velocity, activist policy changes have tended at times during the mid-1970s to
A) accelerate inflation during expansions. B) increase unemployment during recessions. C) accelerate inflation and increased unemployment. D) dampen inflation and decrease unemployment.
In auctions, the winner always pays a price equal to the highest (his) bid
Indicate whether the statement is true or false
How does the effect of changes in foreign demand compare to the effect of changes in the foreign exchange rate?
a. Changes in foreign demand cause a shift in the aggregate demand curve, whereas changes in the foreign exchange rate cause movement along the curve. b. Changes in foreign demand shift the aggregate demand curve rightward, whereas changes in the foreign exchange rate shift the curve leftward. c. Changes in foreign demand cause movement along the aggregate demand curve, whereas changes in the foreign exchange rate cause curve shifts. d. Changes in foreign demand and changes in the foreign exchange rate can both shift the aggregate demand curve.
If the exchange rate between the Chinese yuan and the U.S. dollar is 5 yuan for $1, then how much is each yuan worth in U.S. dollars?
a) $0.20 b) $1.50 c) $2 d) $5