Fundamental forecasters assume that if current exchange rates reflect all facts in the market, then under similar circumstances, future rates will follow the same patterns.
a. true
b. false
b. false
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When calculating the price elasticity of demand, which of the following conditions must be satisfied?
A) All other factors that influence demand must be held constant. B) Prices of related goods must be held constant but all other factors must be allowed to vary. C) Prices of related goods must be allowed to vary but all other factors must be held constant. D) All other factors than influence demand must be allowed to vary.
Suppose a price ceiling is set by the government below the market equilibrium price. Which of the following will result?
a. The demand curve will shift to the left. b. The quantity demanded will exceed the quantity supplied. c. The quantity supplied will exceed the quantity demanded. d. There will be a surplus.
Because consumers want more Baby Bigfeet dolls, more Baby Bigfeet dolls will be produced and brought to the market. This is an example of
a. consumer sovereignty b. resources not being scarce c. ceteris paribus d. a natural resource e. macroeconomic activity
Unemployment payments
a. rise during a recession and thus reduce the severity of the recession b. rise during a recession and thus increase the severity of the recession c. rise during inflationary episodes and thus reduce the severity of the inflation d. fall during inflationary episodes and thus increase the severity of the inflation e. fall during a recession and thus increase the severity of the recession