Refer to the table below. If European governments decided to fix the price of a euro at $0.80, they would have to:
The table below shows the supply and demand schedules for the European euro.
A. Buy 286 euros
B. Buy 114 euros
C. Sell 114 euros
D. Sell 286 euros
C. Sell 114 euros
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Increasing the reserve requirement reduces the money supply.
Answer the following statement true (T) or false (F)
Which of the following statements is correct?
A. The Social Security Act requires all employers to insure their workers against industrial accidents and diseases B. An increase in the degree of income inequality means that the income level of the poor is falling while the income level of the rich is rising C. Over 90 percent of the workers in the United States are currently covered by Social Security D. About one-fifth of our population is now classified as living in poverty
If aggregate expenditure in an economy equals 1,000 + 0.9Y and full employment real GDP equals 9,000, then this economy has
A. an inflationary gap. B. no output gap. C. a recessionary gap. D. no autonomous expenditure.
A perfectly competitive firm's marginal revenue
A) is greater than its price. B) is less than price because a firm must lower its price to sell more. C) is equal to its price. D) may be either greater or less than its price, depending on the quantity sold.