Which of the following factors does not affect the long-run supply and demand conditions of foreign currencies?
A) Relative inflation rates
B) Relative productivity levels
C) Tastes for domestic versus foreign goods
D) All of the above affect the long-run supply and demand conditions of foreign currencies.
D
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If the average total cost of producing 20 sweaters an hour falls when the firm doubles all its inputs, then the
A) short-run average total cost curve shifts upward because all inputs have increased. B) firm moves along its short-run average total cost curve. C) firm experiences economies of scale. D) long-run average cost curve shifts downward.
According to Paul Krugman, during the past decade Japan's macroeconomic policy should have incorporated which of the following?
A) stimulatory monetary policy B) stimulatory fiscal policy C) monetization of the debt by the central bank D) All of the above