If the quantity supplied of euro were greater than the quantity demanded, then the price of the
a. euro would rise.
b. euro would fall.
c. dollar would fall.
d. euro would be in equilibrium.
B
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East Asian economies have grown
A) rapidly because of high saving rates. B) rapidly despite a lack of property rights. C) slowly because of a lack of property rights. D) slowly because of low saving rates. E) rapidly because they virtually eliminated international trade.
Pure capitalism and a pure command system represent
a. two different ways of answering the basic economic questions b. two names describing the same method of answering the basic economic questions c. the only two ways of answering the basic economic questions d. the most efficient ways to answer the basic economic questions e. none of the above
Suppose that a nation has a GDP of 1.0 trillion dollars in 2000. If a country grows at an average rate of 3.0 % per year over a fifteen year period, then its compounded GDP at the end of the 15 year period should be:
A. 1.47 Tr. B. 2.00 Tr. C. 1.33 Tr. D. 1.56 Tr.
What are the optimal wage and employment level from the perspective of a union in Figure 31.1?
A. $8; 10 workers. B. $4; 13 workers. C. $5; 16 workers. D. $11; 32 workers.