Refer to Figure 14.1. Other things equal, if the U.S. dollar increases in value relative to other currencies, this is best represented as a movement from
A) point X to point Y.
B) point X to point Z.
C) point Y to point Z.
D) point Y to point X.
A
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In the figure above, if the market is unregulated, the price will be
A) $250 per unit. B) $200 per unit. C) $150 per unit. D) $100 per unit.
Goods and services sold to foreign buyers are
A. Exports. B. A trade embargo. C. The terms of trade. D. Imports.
If there is persistent inflation
A. long-run aggregate supply is constant. B. long-run aggregate supply is growing at a slower rate than aggregate demand. C. long-run aggregate supply is growing at a faster rate than aggregate demand. D. there is an excess of total planned expenditures.
Which statement is true?
A. Foreigners are holding over $1 trillion in U.S. currency (which they have not invested in the U.S.). B. If foreigners keep buying U.S. assets, we will run out of things to sell before the year 2025. C. Within 10 years the United States will probably go bankrupt. D. None of these statements are true.