The freely floating exchange rate system has been in effect since
A. 1933.
B. 1943.
C. 1953.
D. 1973.
D. 1973.
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In a perfectly competitive market, the market demand curve is horizontal
a. True b. False
Chad and Libya are two economies in Africa. Suppose Libya's national income is twice the size of Chad's but Libya's economic growth is only half the growth rate of Chad's. Suppose as well that the MPC in each is 0.75 . You would expect then that the
a. level of investment is higher in Chad than in Libya but the level of saving is higher in Libya than in Chad b. level of investment is lower in Chad than in Libya but the level of saving is lower in Libya than in Chad c. level of investment and of saving is higher in Chad than in Libya d. level of investment and of saving is lower in Chad than in Libya e. consumption is greater than saving in Chad but lower than saving in Libya
Suppose that a vaccine is developed for a highly contagious strain of flu. The likelihood that anyone will get this flu decreases as more people receive the vaccine. One of the demand curves below represents the private demand for the vaccine and the other represents the social demand for the vaccine.
The private demand for the vaccine is given by ________, and social demand for the vaccine is given by ________.
A. D2; MC B. D2; D1 C. D1; MC D. D1; D2
The equation of exchange can be written as
A. velocity × nominal GDP = price index. B. real GDP × price index = money supply. C. money supply × price index = real GDP. D. money supply × velocity = nominal GDP.