Economic analysis and policy are made more difficult by
a. having so much data to work with.
b. inadequate and imperfect information.
c. an incomplete consensus on the basic goals of social policy.
d. the lack of public interest and opinion on economic questions.
e. the major economic problems society faces.
b
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An independently floating exchange rate is adjusted periodically at a fixed pronounced rate.
a. true b. false
The government allows ________ companies to operate as regulated monopolies.
A) airline B) mining C) utility D) timber E) telecommunications
Fred and Ann both decide to see the same movie when they are given free tickets to the movie. We know that
A) both bear an opportunity cost since they could have done other things instead of see the movie. B) both bear the same opportunity cost since they are doing the same thing. C) the cost of going to the movie is greater for the one who had more choices to do other things. D) neither bear an opportunity cost because the tickets were free.
The foreign exchange rate describes the
A) balance of trade. B) balance of payments. C) law of comparative advantage. D) price of foreign currency in terms of domestic currency.