_____ is a specific location in New York City where contracts to deliver agricultural and metal products are bought and sold
a. The U.S. Department of Commerce
b. The New York Stock Exchange
c. The Commodity Exchange
d. The Barclays Bank
e. The U.S. Commodity Futures Trading Commission
c
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The purchasing power parity theory is a reasonably good explanation for nominal exchange rate determination:
A. in the short run. B. in the long run. C. when there are fixed exchange rates. D. when there are significant volumes of non-traded goods and services.
In the aggregate supply-aggregate demand model, if every person in the economy correctly anticipates the inflation rate, the unemployment rate will
A) be less than the natural rate of unemployment. B) be more than the natural rate of unemployment. C) equal zero. D) equal the natural rate of unemployment.
If the equilibrium price of a good decreases and the equilibrium quantity of the good decreases, we can conclude that
A) demand decreased. B) supply increased. C) demand increased. D) supply decreased.
Suppose a perfectly competitive market is in long-run equilibrium with a price of $12. Then there is a permanent increase in demand
As a result, in the short run the market price ________ and in the long run the number of firms ________ and the price is ________ the price was in the short run. A) rises; does not change; is equal to B) rises; increases; higher than C) rises; does not change; lower than D) falls; decreases; is equal to E) rises; increases; lower than