Which of the following is true about the United States?
A. There have been recessions approximately every ten years.
B. The pattern of recessions does not occur on a regular basis.
C. Periods of economic growth and recessions occur in two-year patterns.
D. Recessions always last less than one year.
E. Recessions in the United States are generally more severe than they are in other countries.
Answer: B
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In the United States, where there is a permanent increase in the money supply, exchange rate overshooting is caused in part by:
a. higher domestic interest rates. b. an appreciation of the dollar. c. lower foreign interest rates. d. a depreciation of the dollar.
The demand and supply schedules for pizza are in the table above. A price ceiling of $4 per slice results in
A) a surplus of 20 slices of pizza. B) a shortage of 20 slices of pizza. C) a shortage of 40 slices of pizza. D) a shortage of 60 slices of pizza. E) neither a shortage nor a surplus.