The Convertibility Law of April 1991 in Argentina
A) pegged the Argentinean currency to the US dollar at a ratio of one to one.
B) pegged the Argentinean currency to the US dollar at a ratio of one to two.
C) pegged the Argentinean currency to the US dollar at a ratio of one to 0.5.
D) represents an era of floating exchange rate in Argentina.
E) pegged the Argentinean currency to the British pound at a ratio of one to one.
A
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If both the demand for a product and the supply of it decrease, then the equilibrium quantity will ________ and the equilibrium price will ________.
A) increase; either increase, decrease, or remain constant B) decrease; either increase, decrease, or remain constant C) increase; increase D) increase; decrease
When there is economy-wide equilibrium, there is a tendency for
A) total output to rise. B) total output to fall. C) total output to remain unchanged. D) prices to fall. E) prices to rise.