Two goods are complements if an increase in the price of one good leads to an increase in demand for the other.
Answer the following statement true (T) or false (F)
False
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In an effort to protect endangered species from the effects of logging in America's national forests, the federal government passes a law prohibiting logging in most of the state of Washington
Which of the figures above best illustrates the effect of this new law? A) Figure A B) Figure B C) Figure C D) Figure D E) None of the above because a prohibition cannot be illustrated using demand and supply figures.
When there is a current account deficit and the official settlements account equals 0, then
A) exports exceed imports for the country. B) the country is an exporter of capital. C) the capital and financial account has a surplus. D) the country has a budget surplus.
Albert and Betty hire Christine and David to play music at their wedding. Elizabeth, who lives behind the church, cannot study because of the loud music. The third party is
a. Albert b. Betty c. Christine d. David e. Elizabeth
The current role of the International Monetary Fund is one of
a. supervising a system of fixed exchange rates. b. providing assistance to countries with currency or debt problems. c. setting exchange rates based on a gold exchange standard. d. acting as a lender of last resort to central banks.