Among the most important indicators used by the NBER Business Cycle Dating Committee to determine the beginning of the 2007-2009 recession were all of the following except:
A. industrial production.
B. total sales in manufacturing, wholesale trade, and retail trade.
C. nonfarm employment.
D. the consumer price index.
Answer: D
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Fixed exchange rates require the economic policies of countries linked by the exchange rate to be:
a. completely independent. b. complementary to each other. c. determined by the World Bank. d. similar in nature. e. determined by the International Monetary Fund.
A market that has no barriers to entry and many small firms selling products that are slightly different from one another is best described as:
A. oligopoly. B. perfect competition. C. monopolistic competition. D. monopoly.
The money demand curve will shift to the right if:
A. the nominal interest rate increases. B. the price level decreases. C. the price level increases. D. the nominal interest rate decreases.
A situation in which there is a reduction in quantity supplied to zero when there is the slightest decrease in price is
A. perfectly elastic demand. B. perfectly elastic supply. C. perfectly inelastic demand. D. perfectly inelastic supply.