A real depreciation of a nation's currency gives rise to the ________ effect and the ________ effect on the current account
A) volume; value
B) depletion; expansion
C) surplus; deficit
D) output; trade
E) price; profit
A
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Compared to the United States, unions are ________ and labor markets are ________ in Western Europe.
A. stronger; more flexible B. stronger; more regulated C. stronger; less regulated D. weaker; less regulated
Suppose there are only two goods – Food (F) and Shelter (S). The demand equations for these two goods depend on their prices, pF and pS as follows:
DF (pF, pS) = 10 – 2pF – pS DS (pF, pS) = 10 – pF – 2pS The supply curves depend only on their own prices: SF (pF) = pF SS (pS) = 5pS Determine the equilibrium price and quantity of these goods.
Unproductive actions designed to increase income or wealth are known as:
a. transfer payments. b. incorporation. c. profit seeking. d. income search. e. rent seeking.
The equilibrium of supply and demand in a market maximizes the total benefits to buyers and sellers of participating in that market
a. True b. False Indicate whether the statement is true or false