If real GDP increased during a year, then output must have increased.
Answer the following statement true (T) or false (F)
True
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Exchange rates (for instance, the dollar price of yen) tend to be different worldwide at any point in time because of different tastes for currencies in each country
Indicate whether the statement is true or false
Which of the following functions is least likely to represent a real demand curve?
A) Q = 120 - 2P B) Q = 120 - 3P + 2I C) Q = 120/P D) Q = 120 + 3P - 2I E) Q = 120/(Pa + Pb)
Which of the following is not a technical barrier to entry in a monopolized market?
a. A patent b. Decreasing average cost c. A low cost method of production known only by monopolists d. Increasing returns to scale
The current account balance tabulates the value of a country's exports of goods and services minus the value of its imports of goods and services
a. True b. False Indicate whether the statement is true or false