In an attempt to solve the problem of the overvalued dollar in the early 1970's, the United States
a. revalued the dollar, which made foreign exchange cheaper.
b. decreased the price of gold in terms of the dollar.
c. devalued the dollar, which made foreign exchange cheaper.
d. devalued the dollar, which made foreign exchange more expensive.
d. devalued the dollar, which made foreign exchange more expensive.
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To economize means to
A) allocate available resources in a way that yields the most value to the economizer. B) behave in a selfish rather than generous manner. C) conserve as much as possible for future use. D) put economic theory to work. E) save rather than spend.
Why will there be less crowding out of private spending by government spending the less sensitive consumption, investment, and net exports are to changes in interest rates?
What will be an ideal response?
The partnership is the least common form of business organization in the United States
a. True b. False
The demand for microwaves in a certain country is given by: D = 8,000 -30P, where P is the price of a microwave. Supply by domestic microwave producers is: S = 4,000 + 10P. Suppose the economy is closed. The equilibrium price of a microwave is ________ and equilibrium quantity is ________.
A. $100; 5,000 B. $125; 4,000 C. $75; 6,000 D. $50; 8,000