Because depreciation of the real exchange rate of the dollar increases U.S. net exports, the demand curve for dollars in the foreign-currency exchange market is downward sloping
a. True
b. False
Indicate whether the statement is true or false
True
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Which of the following economic activities is ignored in GDP accounts?
A) The market value of medical services B) The market value of educational services C) The market value of illegal drugs D) The market value of prescription drugs E) The market value of the services associated with used-car dealers
Changing consumer taste and preferences, lawsuits, and competitive pressures adversely affect McDonald's sales
Indicate whether the statement is true or false
Which of the following is an example of a local monopoly as compared to a national or international monopoly?
a. a restaurant at a rural crossroads b. Alcoa during the 19th century c. De Beers Consolidated Mines d. AT&T e. U.S. Postal Service
Holding all other forces constant, when the price of gasoline rises, the number of gallons of gasoline demanded would fall substantially over a ten-year period because
a. buyers tend to be much less sensitive to a change in price when given more time to react. b. buyers tend to be much more sensitive to a change in price when given more time to react. c. buyers will have substantially more income over a ten-year period. d. the quantity supplied of gasoline increases very little in response to an increase in the price of gasoline.