The decision about whether to change prices frequently or infrequently is an application of the:
A. cost-benefit principle.
B. scarcity principle.
C. principle of increasing opportunity cost.
D. principle of comparative advantage.
Answer: A
Economics
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Overshooting is when exchange rates:
a. adjust more in the short run than they need to for long-run equilibrium. b. adjust less in the short run than they need to for long-run equilibrium. c. are unable to adjust because of fixed exchange rates. d. adjust at the same rate as prices.
Economics
The table below shows data for China
Population (millions) Real GDP (yuan, billions) Nominal GDP (yuan, billions) 2000 1267 4999 9921 2003 1292 6498 13582 2006 1315 8776 21087 The standard of living between 2003 and 2006 increased by ________. A) 55.3 percent B) 1.8 percent C) 35 percent D) 32.7 percent
Economics