The U.S. dollar is called a ________ because it is often used as an intermediary to accomplish trading between two other currencies.
A. common currency
B. main currency
C. vehicle currency
D. primary currency
Answer: C
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The Keynesian view that demand could fall short of production is more likely to hold true if
a) wages and prices are fully flexible b) prices, but not wages, are full flexible c) wages and prices are not fully flexible d) wages, but not prices, are fully flexible
In basic terms, the current account is equal to
A) imports plus exports. B) savings minus consumption. C) exports minus imports. D) savings plus exports.
Positive economic analysis _____
a. evaluates policy changes and determines whether it is a good idea b. seeks to understand the outcome of a policy change c. cannot be proven incorrect d. is a statement about "what ought to be"
If Stimpson University increases tuition in order to increase its revenue, it will:
A. not be successful if the demand curve slopes downward. B. be successful if demand is elastic. C. be successful if demand is inelastic. D. be successful if supply is elastic.