An increase in real GDP
A) increases the buying and selling of goods and decreases the demand for money as a medium of exchange.
B) decreases the buying and selling of goods and decreases the demand for money as a medium of exchange.
C) decreases the buying and selling of goods and increases the demand for money as a medium of exchange.
D) increases the buying and selling of goods and increases the demand for money as a medium of exchange.
D
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Which of the following would increase the total amount of trade in the world?
A) trade diversion B) trade deflection C) trade retention D) rules of origin
In an attempt to reduce the poverty rate, there has recently been a movement away from income maintenance programs to
A. encouraging people to get jobs. B. Supplemental Security Income programs. C. reducing the age a person can retire at. D. incorporating the Lorenz policy in decisions.
If $1 was equivalent to 120 Japanese yen in 2008 and 125 Japanese yen in 2010, it implies in 2010, there was:
a. a depreciation of the dollar against the yen. b. a depreciation of the yen against the dollar. c. an appreciation of the yen against the dollar. d. no change in the value of yen, but the dollar had weakened. e. no change in the value of dollar, but the yen had strengthened.
Itchy Scratchy Bombs 10 8 Missiles 6 4 The table above shows how many bombs or missiles Itchy and Scratchy can produce in one year. (For example, Itchy could produce 10 bombs or 6 missiles in a year.) Which of the following is an accurate statement about comparative advantage?
a. Itchy has the comparative advantage in both goods. b. Scratchy has the comparative advantage in both goods. c. No one has the comparative advantage in missiles. d. Itchy has the comparative advantage in bombs, while Scratchy has the comparative advantage in missiles. Incorrect, Please review Top Ten Concept # 2. e. Itchy has the comparative advantage in missiles, while Scratchy has the comparative advantage in bombs.