In a foreign exchange market diagram with dollars per peso on the vertical axis, the quantity of __________ would be on the horizontal axis, and the U.S. demand for Mexican goods would help to determine the __________ curve
A) dollars; demand
B) dollars; supply
C) pesos; demand
D) pesos; supply
C
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The major factor contributing to the depreciation of the Euro in 1999 and 2000 was:
A) low interest rates in the U.S. relative to Europe. B) high interest rates in the U.S. relative to Europe. C) trade barriers in Europe. D) none of the above.
There is no relationship between the price level and which component of GDP?
A. C B. I C. G D. NX
If the economy experiences a recessionary gap then:
A. aggregate expenditures exceed the level of spending necessary to provide for full employment. B. Keynesian economics would recommend a reduction in government spending or an increase in taxes. C. Keynesian economics would recommend an increase in government spending or a decrease in taxes. D. the equilibrium level of output and income is above full employment.
Consider the relationship between the price of gas and the quantity of gas consumed by drivers. If we are to consider the price of gas as the only factor affecting the quantity of gas consumed, while holding other factors such as drivers' incomes and tastes and preferences irrelevant, then we are invoking: (check all that apply)
a. economic generalizations. b. the law of supply. c. the other-things-equal assumption. d. ceteris paribus. e. marginal analysis.