A country recently had a trade deficit of 350 billion euros. Its residents also purchased 400 billion euros of foreign assets. What was the value of this country's assets purchased by foreigners?
Foreigners purchased 750 euros of this country's assets.
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The Fed can engage in preemptive strikes against a rise in inflation by ________ the federal funds interest rate; it can act preemptively against negative demand shocks by ________ the federal funds interest rate
A) raising; lowering B) raising; raising C) lowering; lowering D) lowering; raising
What does the Fed do when the initial equilibrium rate is below the target rate?
a. Decrease the price level. b. Increase the price level. c. Decrease the money supply. d. Increase the money supply.
Which of the following statements best captures the concept of consumer surplus?
A. "I was willing to pay $30 for a dozen roses, but I bought them for $20." B. "I paid $35 for roses last week and just saw them for sale now at $25." C. "I was willing to pay $30 for roses, but they are selling for $35, so I did not buy." D. "I saw a sale for flowers, so I bought four bundles."
Suppose that Canadian farmers can grow wheat more cheaply than can U.S. farmers. In the interest of efficiency, what is the desirable outcome?
A) Allow the Canadian farmers to sell their wheat for a lower price. B) Pass a law in Canada mandating a minimum price for wheat equal to what is charged by U.S. farmers. C) Pass a law in the United States mandating a maximum price for wheat equal to what is charged by Canadian farmers. D) Have U.S. citizens boycott Canadian wheat.