In a ________ exchange rate system the government or central bankers intervene to keep the exchange rate virtually steady.
A. market-driven
B. forward
C. managed float
D. fixed
Answer: D
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Figure 5-5 shows a consumer budget line for French fries and hamburgers. If the household has $20 to spend, the price of hamburgers is
A. $1. B. $2. C. $4. D. $2.50.
The figure above shows supply curves for soft drinks. Suppose the economy is at point a. A decrease in the price of sugar used to make soft drinks is shown as a movement from point a to a point such as
A) none of the points that are illustrated. B) point b. C) point c. D) point d.
The law of demand illustrates that as
a. price decreases, demand increases. b. price increases, quantity demanded increases. c. price decreases, quantity supplied increases. d. price decreases, quantity demanded increases.
Historically, one problem found in most regulatory commissions is
a. the government cannot find qualified commissioners b. the U.S. Constitution requires laissez-faire c. the company will headquarter itself in a foreign country d. the regulators become the protectors of the industry e. price is set too low and most regulated firms go bankrupt