An increase in the cost of building materials will generally lead to a _______ in the ______ curve for new homes.
Fill in the blank(s) with the appropriate word(s).
decrease; supply
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Which of the following statements is true of Black Wednesday?
A) Following Black Wednesday, the British pound became less valuable relative to the German mark. B) Currency traders who had borrowed pounds to buy German marks incurred huge losses due to Black Wednesday. C) The British government earned enormous profits by selling foreign currency reserves following Black Wednesday. D) Following Black Wednesday, the British pound became more valuable relative to the German mark.
An accountant may amortize the expense of a durable good by dividing the total amount spent on the good by the number of years the good is expected to last
An economist may amortize the expense of a durable and never fully account for the total expense. Indicate whether the statement is true or false
Under a system of flexible exchange rates, an increase in demand for a nation's currency in the foreign exchange market will
a. cause the nation's currency to appreciate. b. make it more expensive for the nation to import goods. c. cause the nation's balance on current account to shift toward a surplus. d. make it less expensive for foreigners to buy the nation's goods.
Figure 10-1
In Figure 10-1, what is the equilibrium level of real GDP and equilibrium price?
a.
$6,000 billion real GDP and price level of 110
b.
$5,000 billion real GDP and price level of 120
c.
$5,000 billion real GDP and price level of 110
d.
$7,500 billion real GDP and price level of 100