A. market prices
B. sticky prices
C. fixed prices
D. regulatory prices
Related Mcqs:
- If the quantity of money demanded exceeds the quantity of money supplied then the interest rate will ?
A. change in a certain direction
B. remain constant
C. fall
D. rise - Assume that global recession causes the quantity of tin demanded to decrease by 4 million pounds at each price To maintain the price of tin at the target price you would ?
A. sell 4 million pounds of tin
B. sell 8 million pounds of tin
C. buy 4 million pounds of tin
D. buy 8 million pounds of tin - Instead, assume that global economic expansion causes the quantity of tin demanded to increase by 4 million pounds at each price To maintain price of tin at the target price you would ?
A. sell 4 million pounds of tin
B. sell 8 million pounds of tin
C. buy 4 million pounds of tin
D. buy 8 million pounds of tin - A group of modern economists who believe that markets clear very rapidly and that expanding the money supply will always increase prices rather than employment are the ?
A. Keynesians
B. post-keynesians
C. monetarists
D. new classical school - If input price prices adjusted very rapidly to output prices as classical economists argue the Philips curve would be ?
A. Vertical or nearly vertical
B. upward sloping
C. downward sloping
D. horizontal or nearly horizontal - If the quantity demanded of beef increases by 5% when the price of chicken increase by 20% the cross-price elasticity of demand between beef and chicken is ?
A. -4
B. 0.25
C. 4
D. -0.25 - In the Px = export price index, Pm = import price index, Qx = export quantity index,and Qm = import quantity index. Developing countries tend to maintain that their commodity term of trade have declined over the long run suggesting that _________ has declined?
A. Px/Pm
B. Pm/Px
C. (Pm/Px)Qm
D. (Px/Pm)Qx - If, in the long run, people adjust their price expectations so that all prices and incomes move proportionately to an increase in the price level then the long-run Phillips curve ?
A. is vertical
B. is negatively sloped
C. has a slope that is determined by how fast people adjust their price expectations
D. is positively sloped - Suppose the economy is initially in long run equilibrium Then suppose there is a drought that destroys much of the wheat crop if policymakers allow the economy to adjust to long-run equilibrium on its own, according to the model to aggregate demand and aggregate supply what happens to prices and output in the long run ?
A. Output rises; prices are unchanged from the initial value
B. Output and the price level are unchanged from their initial values
C. Output falls; prices are unchanged from the initial value
D. Prices fall; output is unchanged from its initial value - To adjust GDP from market prices to factor cost ?
A. Add indirect taxes
B. Subtract subsidies
C. Deduct indirect taxes and subsidies
D. Deduct indirect taxes and add subsidies
