________ are in place when a country's government places restrictions on the conversion of the domestic currency into foreign currency or vice versa.
A. Official interventions
B. Exchange controls
C. Adjustable pegs
D. Capital controls
Answer: B
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Which of the following statements about the price elasticity of demand along a downward-sloping linear demand curve is true?
A) It is elastic at high prices and inelastic at low prices. B) It is inelastic at high prices and elastic at low prices. C) It is perfectly elastic at very high prices and perfectly inelastic at very low prices. D) It is unit elastic throughout the demand curve.
The list of the major factors that create economies of scale includes all of the following except:
A) specialization and division of labor. B) quantity discounts. C) an increase in demand for the firm's output. D) the use of automation devices.
The invention of parity price ratios was designed to protect farmers' purchasing power. Over the years, these parity price ratios have
a. been fixed at 100 percent b. increased to approximately 125 percent of their initial value set in 1910–1914 c. been increasing at approximately 25 percent per year d. been falling and are less than 50 percent of the 1910–1914 ratio e. been volatile, increasing and decreasing sometimes dramatically, but still averaging approximately 100 percent of 1910–1914 levels, which was the long-run target
If population growth occurs while labor force participation does NOT increase,
A. a nation's labor resources will still continue to increase in both quality and quantity. B. per capita GDP is likely to increase sharply. C. economic growth will still continue because any population gain is a plus. D. there may be no increase in labor resources or economic growth.