When U.S. residents buy products that were made in Japan, then ultimately the Japanese want
A. dollars.
B. Japanese goods.
C. goods, including U.S.-made goods.
D. yen.
Answer: C
You might also like to view...
How is a long-run average cost curve different from a short-run average cost curve? How are they related?
What will be an ideal response?
Ben N. Jerry prefers to keep his $10,000 retirement savings buried in the backyard. After an increase in the price level, Ben reduces the amount of goods and services he wants to purchase. Ben's rationalization, that now his retirement savings won't buy as much, is consistent with which explanation of the aggregate demand curve's negative slope?
a. the interest rate effect b. the open economy effect c. the inflation effect d. the wealth effect
A craft union is a union
a. organized on the basis of the workers' industry b. organized on the basis of workers' skills c. organized by an employer d. whose primary goal is to oppose technological advance and to protect the traditional method of working e. organized by workers in the arts and craft industries
GNP and GDP:
a. Are quite different because GDP measures a nation's income, and GNP measures a nation's output. b. Both measure a nation's income and output. c. Are quite different, because GNP measures a nation's income and GDP measures a nation's output. d. Are both stock measures of a nation's output. e. Are both stock measures of a nation's income.