Inflation is an increase in
A. real gross national product.
B. the price of one item.
C. the overall price level.
D. the average income level.
Answer: C
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With floating exchange rates, BOP equilibrium is restored by
A) trade restrictions. B) earnings from foreign investments. C) exchange rate changes. D) All of the above.
Define asset market equilibrium and state the asset market equilibrium condition
What will be an ideal response?
Which of the following terms best describes the idea that a nation's trade policy is restrictive, limiting the amount of imports from other countries?
A) Protectionism B) Nationalism C) Mercantilism D) None of the above
Total fixed cost is
A. the expenditure on imported raw materials. B. the cost of buying and installing new machinery. C. the wages paid to consultants. D. the cost that does not change as output changes.