The quantity supplied by domestic producers in an importing country must be less than the quantity demanded by its population
a. True
b. False
Indicate whether the statement is true or false
True
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If the purchasing power of a dollar is less than the purchasing power of the euro, purchasing power parity would predict that
A) in the long run, interest rates will move to equalize the purchasing power of the dollar and the euro. B) in the short run, interest rates will move to equalize the purchasing power of the dollar and the euro. C) in the short run, exchange rates will move to equalize the purchasing power of the dollar and the euro. D) in the long run, exchange rates will move to equalize the purchasing power of the dollar and the euro.
When the price of a pound of apples is $1.00, 7500 pounds of apples are demanded. When the price of a pound of apples decreases to $0.80, 10,000 pounds of apples are demanded. In this price range the demand for apples is
A) elastic. B) inelastic. C) unit elastic. D) perfectly elastic.
When the economy is in equilibrium, we know with certainty that
A) public saving equals investment. B) private saving equals investment. C) G = T. D) none of the above
Which of the following is a positive economic statement?
A) Policymakers should strive to eliminate government budget deficits. B) The President of the United States should promote high employment growth in the United States. C) If the price of eggs increases, the quantity demanded of eggs will fall. D) We should try to eliminate poverty in the United States.