Gold is an excellent store of value because of its
a. divisibility, portability, and homogeneity
b. divisibility and durability
c. durability and relative scarcity
d. durability and homogeneity
e. divisibility, durability, and relative scarcity
C
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When the exchange rate fluctuates around a fixed central target, allowing for a moderate amount of fluctuation, while tying the currency to the target central rate, the exchange rate is under a(n):
a. horizontal band. b. crawling peg. c. managed float. d. independent float. e. currency board.
At present, the maximum legal price for a human kidney is $0 . The price of $0 maximizes
a. consumer surplus but not producer surplus. b. producer surplus but not consumer surplus. c. both consumer and producer surplus. d. neither consumer nor producer surplus.
The time needed to decide what to do once a macroeconomic problem has been identified is called a ________ ________
a. Recognition Lag b. Decision-Making Lag c. Implementation Lag d. Effectiveness Lag
A direct or positive relationship between price and quantity supplied is
A) the market clearing price. B) a change in demand. C) a supply curve. D) a demand curve.