If the dollar price of one South African rand (ZAR) increases from $0.076 in 1999 to $0.083 in 2003, we can say that the reciprocal exchange rate moved from:
a. $1 = ZAR 13.2 in 1999 to $1 = ZAR 12.0 in 2003.
b. $1 = ZAR 12.0 in 1999 to $1 = ZAR 13.2 in 2003.
c. $1 = ZAR 0.076 in 1999 to $1 = ZAR 0.083 in 2003.
d. ZAR 1 = $0.083 in 1999 to ZAR 1 = $0.076 in 2003.
e. $1 = ZAR 176 in 1999 to $1 = ZAR 183 in 2003.
a
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Does monetary policy require the accompaniment of fiscal policy to change total spending?
A) No, because the Fed is an independent agency of the federal government. B) Yes, because monetary policy can contract total spending but cannot by itself expand it. C) Yes, because no policy is effective if it only changes nominal money values. D) Yes, if the demand for money tends to change in about the same direction and amount whenever the supply changes.
In the factor payments approach to GDP, owners of capital receive
a. wages b. salaries c. rent d. interest e. profit
Based on the graph showing the crowding-out effect, higher interest rates cause a shift from ______.
a. AD1 to AD2
b. AD2 to AD1
c. AD2 to AD3
d. AD1 to AD3
How have changes in farming technology influenced the United States over time?
a. The economy has come to rely on imports for most of its agricultural products. b. A much larger percentage of total resources has been shifted to farming. c. They have allowed a much higher percentage of people to find jobs in the agricultural industry. d. The percentage of people who farm has dropped to a small fraction of what it once was.