If the goods' money prices do not change, a depreciation of the dollar against the pound
A) makes British sweaters cheaper in terms of American jeans.
B) makes British sweaters more expensive in terms of American jeans.
C) makes American jeans more expensive in terms of British sweaters.
D) doesn't change the relative price of sweaters and jeans.
E) makes British jeans more expensive in Britain.
B
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Which of the following is a consequence of free riders?
A. The government always steps in to produce the good or service. B. The good or service is produced regardless. C. The good or service is never produced because not enough people paid to use it. D. Consumers are better off by not having the good or service be produced.
The slope of a line is defined as the
a. change in the value of the variable on the vertical axis divided by the change in the value of the variable on the horizontal axis b. value of the variable on the horizontal axis divided by the value of the intercept on the vertical axis c. change in the value of the variable on the horizontal axis divided by the increase in the value of the variable on the vertical axis d. value of the variable on the vertical axis divided by the value of the variable on the horizontal axis e. change in the value of the variable on the vertical axis times the increase in the value of the variable on the horizontal axis
The period of 1973 to 1980 can best be described as a time of
A. deflation. B. reflation. C. unflation. D. stagflation. E. disflation.
Which of the following statements is correct?
A. GATT provides short-term loans of foreign currencies to nations faced with temporary balance of payments difficulties B. The "most-favored-nation" clause in reciprocal trade agreements means that any tariff reduction granted one specific nation will automatically apply to most other nations C. During the Great Depression the flow of trade was stimulated by mutual reductions in tariffs and import quotas among leading trade nations D. The Smoot-Hawley Tariff Act exempted American exporters from the Sherman Antitrust Act