An appreciation in the U.S. dollar would
a. encourage foreigners to make investments in the United States.
b. discourage foreign consumers from buying U.S. goods.
c. increase the number of dollars it would take to buy a Swiss franc.
d. encourage foreigners to buy more U.S. goods.
B
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According to Pigovian analysis, when is a tax necessary to improve the market's economic efficiency?
a. When high transactions costs prevent private bargaining. b. When the social marginal cost of production exceeds the private marginal cost. c. When consumption of the good creates external benefits for others. d. When at the competitive equilibrium, the social marginal benefit of the good equals its social marginal cost.
The self-correcting property of the economy means that output gaps are eventually eliminated by:
A. increasing or decreasing potential output. B. government policy. C. decreasing inflation only. D. increasing or decreasing inflation.
Using a graph, analyze the Great Depression from a Keynesian perspective. What happened to unemployment?
What will be an ideal response?
During the first half of the 2000s, the price of pork rose. After that, within a couple of years the price fell back to about the level before the initial increase. What might have led to these events?
What will be an ideal response?