Another term for the equilibrium price is
A) excess demand.
B) nominal price.
C) law of demand.
D) market clearing price.
D
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A rise in the domestic interest rate leads to capital
A. outflows and exchange rate appreciation. B. outflows and exchange rate depreciation. C. inflows and exchange rate depreciation. D. inflows and exchange rate appreciation.
If MSC = 20 + 0.75A, where MSC is in millions of dollars, and A is the percentage of mercury emissions abatement, then
a. the total social costs of abatement equal $184 million when A is 8 percent b. the TSC at an abatement level of 10 percent is $27.5 million c. a 40 percent abatement level is associated with MSC of $30 million and TSC of 20 million d. TSC cannot be determined at any abatement level
The recent growth records of Japan and Hong Kong during the last fifty years indicate that a nation can grow rapidly without
a. securely defined property rights. b. adopting modern technology. c. significant capital formation. d. abundant domestic natural resources.
Assuming that the increase in the value of the dollar in the foreign exchange market has a greater impact on aggregate demand than on aggregate supply, an increase in the United States budget deficit will raise Real GDP
A) more in an open economy than in a closed economy. B) more in a closed economy than in an open economy. C) to the same level irrespective of whether it is a closed or an open economy. D) none of the above (i.e. Real GDP will decrease)