When comparing the ratio of imports or exports to GDP, the United States, relative to other countries, has:
A. Higher ratios for both imports and exports.
B. A higher ratio for imports but a lower ratio for exports.
C. A lower ratio for imports but a higher ratio for exports.
D. Lower ratios for both imports and exports.
D. Lower ratios for both imports and exports.
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Members of the Federal Reserve Board of Governors are
A. appointed by Congress to staggered 14-year terms. B. selected by each of the Federal Reserve banks for 4-year terms. C. selected by the Federal Open Market Committee for 4-year terms. D. appointed by the president to staggered 14-year terms.
The above table shows answers given by people interviewed in the Current Population Survey. Which person is cyclically unemployed?
A) A B) B C) C D) none of the people
If muffins and bagels are substitutes, a higher price for bagels would result in a(n)
a. increase in the demand for bagels. b. decrease in the demand for bagels. c. increase in the demand for muffins. d. decrease in the demand for muffins.
Suppose that before S1 shifted, a typhoon destroyed a huge shipment of Quality Unlimited HD televisions, thereby reducing the supply of this product in the United States. Considering this scenario, what would be the new position of S2, and how else would this graph change?
a. S2 would shift left of S1, and Q1 would be indeterminate.
b. S2 would shift right of S1, and E2 would move even further down.
c. S2 would shift right of S1, and Q2 would move even further to the right.
d. S2 would shift left of S1, and P2 would be higher than P1.