If a central bank is independent,
a. it has the ability to alter taxes.
b. it allocates savings to firms.
c. it restricts trade to increase domestic employment.
d. it operations are not controlled by the political process.
d
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Black markets can occur when price ceilings are imposed in a market. Which of the following explains why sellers participate in a black market?
A) Sellers are able to sell the product for a higher than legal price. B) There are more buyers in the black market than in the legal market. C) The demand is perfectly elastic in a black market. D) The demand is perfectly inelastic in a black market. E) The surplus in the legal market means that many sellers can sell their product in the black market.
In the graph below, the value of the dollar in terms of yuan is:
A. appreciating because the dollar buys more yuan. B. appreciating because the dollar buys fewer yuan. C. depreciating because the dollar buys more yuan. D. depreciating because the dollar buys fewer yuan.
Macroeconomics:
A. is concerned with the expansion of a small business into a large corporation. B. is narrower in scope than microeconomics. C. analyzes mergers and acquisitions between firms. D. is concerned with the expansion and contraction of the overall economy.
What is the best way to describe aggregate demand?
A) quantity required to satisfy equilibrium B) exports decrease; imports increase C) amount of a country's goods and services demanded by household and firms throughout the world D) individual's demand E) domestic demand of foreign imports.