Nearly half of federal government research and development spending takes place in the
A. National Science Foundation.
B. National Aeronautics and Space Administration (NASA).
C. Department of Defense.
D. Federal Office of Technology Policy.
Answer: C
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Nominal exchange rates
a. vary little over time. b. vary substantially over time. c. appreciate over time for most countries. d. depreciate over time for most countries.
If producers incorrectly set the price of their product too high a:
A. shortage will result and consumers will bid the price down to equilibrium. B. surplus will result and excess goods in inventory will signal to producers to lower their prices. C. shortage will result and consumers will bid the price up to equilibrium. D. surplus will result and excess goods in inventory will signal the producers to restrict output until sales increase.