An increase in foreign demand for U.S. exports will ____ the demand for U.S. dollars and cause the U.S. dollar to ____ in value
a. increase; appreciate
b. increase; depreciate
c. decrease; appreciate
d. decrease; depreciate
a
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In a small European country, it is estimated that a $10,000 increase in capital per hour worked will increase real GDP per hour worked by $300. Based on this information, what is the slope of the per-worker production function in this range?
A) 0.03 B) 3.3 C) 33.3 D) 333
Approximately what percent of all world production of goods and services is exported to other countries?
A) 10% B) 30% C) 50% D) 100% E) 90%
According to the classical model, changes in aggregate demand are driven by
a. changes in taxes. b. changes in borrowing and lending. c. changes in fiscal policy. d. demand curve to the left and increases the price level.
Why were banking panics and failures largely eliminated after 1933?
a. There were fewer recessions. b. There was more government spending. c. All U.S. currency began to be backed by gold. d. Congress created deposit insurance. e. The banking sector became less important as the US became a more trade-oriented economy.