The exchange rate of the Euro against the British Pound is currently:
(a) At parity.
(b) Below parity.
(c) Above parity.
(d) Undefined.
Answer: (b) Below parity.
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When people reduce their rate of time preference
A) more credit is made available in the banking system. B) less credit is made available in the banking system. C) the demand for credit shifts right. D) the supply of credit shifts left.
In a market, competitive forces guarantee that any price other than the equilibrium price is:
a. market-clearing. b. stable c. temporary. d. unaffordable.
If the national debt is owed to foreigners,
A. the debt constitutes a burden to domestic citizens. B. economic growth will necessarily be higher than if the debt were owed to domestic citizens. C. paying off the debt will involve a transfer of resources within the country. D. future interest payments on the debt are not a burden to the nation.
If the price of smartphones was to increase, then
A) the quantity of smartphone apps demanded would increase. B) the demand for smartphone apps would increase. C) the demand for smartphone apps would decrease. D) the quantity of smartphone apps demanded would decrease.