Which of the following is not a true statement about the foreign exchange market?
a. Trading for foreign exchange is conducted without interruption (24 hours a day) during the workweek.
b. Prices for foreign currencies are the usually same throughout the world.
c. Bid-ask-spreads are bigger in the wholesale than in the retail market for foreign exchange.
d. The wholesale volume surpasses the retail volume by a huge margin.
.C
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Most international trade takes place between countries that are far away from each other
Indicate whether the statement is true or false
Assume a perfectly competitive firm is producing 500 units of output, P = $7, ATC of the 500th unit is $6, marginal cost of the 500th unit = $7, and AVC of the 500th unit = $5. Based on this information, the firm is:
A) earning an economic profit of $500. B) earning an economic profit of $1,000. C) incurring a loss of $500. D) incurring a loss of $1,000.
If the CPI was 125 this year and 120 last year, then
a. the cost of the CPI basket of goods and services increased by 4.2 percent this year. b. the price level increased by 4.2 percent this year. c. the inflation rate for this year was 4.2 percent. d. All of the above are correct.
Built-in stabilizers
A. are insufficient to prevent the business cycle, but tend to lessen fluctuations in real GDP. B. were introduced under President Nixon. C. are found primarily in discretionary fiscal policy. D. tend to lessen fluctuations in GDP through their effect on the money supply. E. were endorsed by Adam Smith.