Ceteris paribus means
A) "all variables are independent."
B) "other things being equal."
C) "some assumptions must be accepted without proof."
D) "some theories are not rational."
B
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Refer to Figure 3-4. At a price of $15, how many units will be sold?
A) 300 B) 400 C) 600 D) 700
Which of the following statements is FALSE?
A) Cartels only form among members of an oligopoly. B) A cartel might form if members believe they can increase profits by coordinating activity. C) Members of a cartel produce less output than that produced in a competitive market. D) Cartel members often have an incentive to cheat.
Interest rate parity can be summarized by which of the following equilibrium conditions?
a. The foreign interest rate must equal the domestic interest rate plus the expected inflation. b. The foreign interest rate must equal the domestic interest rate. c. The foreign interest rate must equal the expected change in the exchange rate. d. The domestic interest rate must equal the foreign interest rate plus the expected change in exchange rate. e. The domestic interest rate must equal the foreign interest rate minus any expected inflation.
Countries that devote a large share of GDP to investment, such as Singapore and S. Korea, tend to have
a. high growth rates. b. stable growth rates. c. low growth rates. d. highly cyclical growth rates. e. there is no relationship between investment and growth.