Which of the following would have the lowest switching costs?
a. a customer ordering from Papa John's instead Pizza Hut
b. an individual getting rid of a PS3 game system and beginning to use a Wii game system
c. a company changing from a QWERTY keyboard to a keyboard with a different format
d. a customer moving a bank account from one bank to another
a
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Economists estimate that the total lag for monetary policy is about:
a. 1-2 days. b. 2 weeks to 1 month. c. 3-12 months. d. 2-4 years.
When income increases, the money demand curve shifts to the ________, which ________ the interest rate with a fixed money supply.
A) right; increases B) right; decreases C) left; increases D) left; decreases
What does it mean to be risk averse?
What will be an ideal response?
Floating exchange rates
A) systematically lead to much larger but less frequent short-run deviations from the absolute PPP. B) systematically lead to much larger and more frequent short-run deviations from the relative PPP. C) systematically lead to much smaller and less frequent short-run deviations from the relative PPP. D) systematically lead to much smaller but more frequent short-run deviations from the relative PPP. E) systematically lead to much smaller and less frequent short-run deviations from the absolute PPP.