A decision to join a free trade association, such as NAFTA, is an example of ________ policy.
A. normative
B. structural
C. fiscal
D. monetary
Answer: B
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European households wishing to purchase shares of stock in an American company are ________ the foreign exchange market.
A. demanders of Euros in B. demanders of U.S. dollars in C. suppliers of U.S. dollars in D. supplied dollars by the European Central Bank for use in
What happens to the absolute value of the marginal rate of substitution as you move down a convex (bowed toward the origin) indifference curve?
A) It could increase or decrease. B) It remains constant. C) It decreases. D) It increases.
Which of the following might explain the evidence of an endowment effect in behavioral economics?
A) government regulation B) knowledge and experience C) the federal tax code D) class envy
Of the following, the most often used measure of changing living standards is
A) the growth rate of nominal GDP. B) the growth rate of real GDP. C) the growth rate of nominal GDP per capita. D) the growth rate of real GDP per capita. E) unemployment per capita.