The Japanese yen is an example of a soft currency.
a. true
b. false
b. false
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Among the fundamental concepts in economics are
A) marginalism. B) opportunity cost. C) efficient markets. D) all of the above
In order to get his bachelor's degree, Timothy gave up an offer for a full time job as a bartender. Therefore, Timothy incurred an opportunity cost.
Answer the following statement true (T) or false (F)
Refer to Figure 7.4. The deadweight loss associated with the monopoly would be represented by the area:
A. ? abe. B. ? ace. C. ? ade. D. ? efg.
The ZIRP (zero interest rate policy) of the Fed led to the so-called zero lower bound problem, which refers to the problem of:
A. Having a very low level of employment with zero new jobs created B. Huge budget deficits leaving the government no more ability to spend C. Interest rates that can't go any lower, i.e. they cannot be driven down below zero D. Zero real-GDP growth due to very weak aggregate demand