Which of the following statements is true?
a. Planned economies have fared very well in recent years, with many of these economies thriving.
b. Command economies operate the most efficiently because the government makes all the production decisions.
c. In a command economy, consumers answer the questions of what to produce, how to produce it, and how to distribute
d. In command economies, consumers still exercise choice.
d. In command economies, consumers still exercise choice.
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Empirical studies find that exchange rates are much more variable than inflation differentials. How can we explain this empirical result?
What will be an ideal response?
Based solely on the graph showing the effective federal funds rate, if you were a borrower with the goal of locking in a thirty-year mortgage with a very low interest rate, which of the following years would have been the best one to take out your loan?
a. 1970
b. 1975
c. 1981
d. 2009