19. Gold, silver, and cigarettes in a prisoner of war are all examples of commodity money.

True

False

20. A devaluation is a reduction in the official value of a currency.

True

False

21. Specialization means that a country devotes its energy and resources to only a small proportion of the world’s productive activities.

True

False

22. Under the Bretton Woods system of fixed exchange rates, the price of the U.S. dollar was fixed in terms of gold and the prices of all other currencies were fixed in terms of dollars.

True

False

23. The United States was among the first of the modern industrial nations to establish a central banking system.

True

False

24. At higher interest rates, banks will want to hold more reserves.

True

False

13. Bankers’ decisions on how much to hold in reserves influence the supply of money.

True

False

14. Inflation increases the use of money as a store of value.

True

False

15. Labor is defined as cheap only if its productivity is very low.

True

False

16. A credit card is a form of money.

True

False

17. Exports are goods produced domestically and sold abroad.

True

False

18. When the dollar depreciates, the prices of imported inputs rise, and the U.S. aggregate supply curve, therefore, shifts inward, pushing up the prices of American-made goods and services.

True

False

Not all externality problems can be solved by the private sector. True or False? Explain your answer making reference to the Coase Theorem.

Illustrate and explain why economists prefer taxes rather than regulations as a means of dealing with negative externalities.

You have the option to produce different versions of a product or service: high quality, or
low quality. The marginal cost to produce the low quality version is $3 and the marginal
cost to produce the high quality version is $15. There are two types of consumers Type
A and Type C with 100 consumers of each type. Each consumer will buy at most one
version of the product. These consumers have the following willingness to pay:

1. Suppose you were to offer only the low quality version. Find the optimal price and profit. Show/Explain why these are the optimal prices/profits.

2. Suppose you were to only offer the high quality version. Find the optimal price and profit. Show/Explain why these are the optimal prices/profits.

3. Suppose you offer high and low quality versions. Find the optimal prices and profit.

• what 3 concepts (in your opinion) are the most important to Consumer Behavior?
• What Consumer Behavior concept (does not have to be in our top 3 from above) is the most germane to your job or personal life? I know there are a few concepts I employ with my son to get him to do what I need him to do...

Use your own words (300 words +)

What is the effect of avaiation sector and maritime in corona vires related in ASEAN

Discuss four reasons why a labour market may not allocate labour efficiently. Include in your answer an example for each of the four reasons

If you live in a country with a political system that you are against(or you're not satisfied with it)

what political parties/movements would you use in order to change the current political system? Give a real life example

A traditional-furnace costs $224 and consumes $155 per year in fuel over its 11 year lifetime. A condensing-furnace costs $440 and consumes $80 per year in fuel over its 11 year lifetime. If interest rates are12% per year, which is the better investment?

a)How do we compare the price and quantity of a monopoly and perfectly competitive market?

b)Why will the perfectly competitive solution be the only efficient allocation?

Suppose interest parity does not hold exactly, but the true relationship is R = R∗ + (Ee − E)/E + ρ(B), where ρ(B) is a risk premium on domestic government bonds that positively depends on B. Suppose a temporary rise in domestic government spending is financed by issuing additional government debt (an increase in B) and makes do- mestic public bonds risk premium higher. Evaluate the policy’s output effects in this situation.

CH8

Suppose an economy produces three final products. Use the following table to calculate GDP and economic growth rate.

Fill in the blanks of the next table. Numbers only without thousand separator.

An economy has four final products, A, B, C, and D. Please use the output and price information to complete the following table and answer questions. Do NOT use thousand separators and ignore decimals (e.g., two thousand as 2000).

The real GDP growth rate in 2017 =   % (e.g., 7%)

Michigan based GM's production of Buicks in China is part of ________ GDP and part of _______ GNP; Japan's Honda's production of Accords in Kentucky is part of ______ GDP and part of _________ GNP, respectively.

• A. China's; the U.S.; the U.S.; Japan's.

• B. China's; the U.S.; the U.S.; the U.S..

• C. U.S.; the U.S.; the U.S.; Japan's.

• D. China's; the U.S.; Japan's; the U.S..

quiz 7

What are the differences between autoregressive and moving average models? Consider the following: model specifications, stationarity, the shapes of their autocorrelation and partial autocorrelation functions.