An increase in the income of country A relative to the income of country B will usually lead to ________.
A. an increase in country A's exports to country B
B. an increase in country B's imports from country A
C. an increase in country B's demand for the currency of country A
D. an increase in country A's demand for the currency of country B
Answer: D
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Bill currently uses his entire budget to purchase 5 cans of Pepsi and 3 hamburgers per week. The price of Pepsi is $1 per can, the price of a hamburger is $2, Bill's marginal utility from Pepsi is 4, and his marginal utility from hamburgers is 6
Bill could increase his utility by: A) increasing Pepsi consumption and reducing hamburger consumption. B) increasing hamburger consumption and reducing Pepsi consumption. C) maintaining his current consumption choices. D) We do not have enough information to answer this question.
The demand schedule for a good shows:
a. the specific quantity of the good that people are willing and able to sell at different prices. b. the positive relationship between the price and the quantity of the good. c. no relationship between the price and the quantity of the good. d. the specific quantity of the good that people are willing and able to buy at different prices. e. the quantity of the good that is sold in the market.
Monopolists usually earn economic rent
a. True b. False Indicate whether the statement is true or false
Which of the following is a characteristic of "public goods"?
What will be an ideal response?