Referring to Table 4.2, Box D should be filled with 
A. $2.
B. $17.
C. $27.
D. $0.
Answer: A
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Use the following graph, which shows the supply and demand curves for dollars in the pound/dollar market, to answer the next question.
Assume that D1 and S1 are the initial demand for and supply of dollars. Suppose that Britain's demand for dollars increases from D1 to D2. If the British government wishes to fix the exchange rate at the initial level, then it would be faced with a problem of ________.
A. rationing Q2 dollars among British importers who would like to acquire Q3 dollars B. rationing Q3 dollars among British importers who would like to acquire Q2 dollars C. deteriorating terms of trade D. a rise in the pound price of dollars
In a closed economy, income equals:
A. consumption plus net exports. B. consumption plus savings. C. consumption minus savings. D. savings plus investment.
Oscorp Inc, a manufacturer of smartphones, is willing to receive $3,000 for each smartphone. The equilibrium market price is $4,000 per smartphone. Which of the following would be the best situation for Oscorp Inc?
a. Consumers being willing to pay $3,000 per smartphone b. Consumers being willing to pay $2,000 per smartphone c. The equilibrium market price changing to $4,500 per smartphone d. The equilibrium market price changing to $3,500 per smartphone
The decade of the 1920s was characterized by which of the following?
(a) Economic advancements in agriculture (b) A decrease in the inequality of income and wealth (c) Consumers dramatically shifted their household demands into purchases of durable goods on credit (d) All of the above characterized the decade of the 1920s