An increase in the U.S. demand for Japanese yen causes
A) an increase in the dollar price of a yen.
B) an increase in the yen price of a dollar.
C) an increase in the demand for U.S. goods.
D) a decrease in the supply of yens.
Answer: A
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Decreases in autonomous spending have a contractionary effect and make ________ levels of real income consistent with a given interest rate
A) lower B) higher C) constant D) none of the above.
Natural monopolies occur when a single or a few firms can take advantage of economies of scale and supply the entire industry output.
A. True B. False C. Uncertain
Suppose the production function for a certain device is q = L + K. If a labor-saving technical change has occurred, which of the following could be the new production function?
A) q = L + 5K B) q = 5 ? (L + K) C) q = 5L + K D) All of the above are possible.
If two alternative economic models are offered, other things equal, we would
a. tend to pick the one with the lowest R2. b. select the model that is the most expensive to estimate. c. pick the model that was the most complex. d. select the model that gave the most accurate forecasts e. all of the above