How will an increase in lumber prices influence the home construction market?
a. The demand for newly constructed homes will increase.
b. The demand for newly constructed homes will decrease.
c. The supply of newly constructed homes will increase.
d. The supply of newly constructed homes will decrease.
d
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The exchange rate for the Mexican peso changes from $1 = 5 pesos to $1 = 6 pesos. This change will lead to ________.
A. Mexican goods becoming more expensive for Americans B. U.S. goods becoming less expensive for Mexicans C. an increase in Mexican imports from the U.S D. a decrease in U.S. exports to Mexico
Which of the following examples best describes the Law of Demand?
A) When John's income doubles, his telephone bill also doubles. B) When the price of bread doubles, John's consumption of bread halves. C) When the price of watches increases, a local manufacturer starts offering more watches for sale. D) When a new anti-tobacco commercial is released, the consumption of tobacco products decreases sharply.
Crops that are grown primarily to sell, rather than to consume, are referred to as
a. staples b. subsistence crops c. cash crops d. market crops e. none of the above
If interest rates rose more in Japan than in the U.S., then other things the same
a. U.S. citizens would buy more Japanese bonds and Japanese citizens would buy more U.S. bonds. b. U.S. citizens would buy more Japanese bonds and Japanese citizens would buy fewer U.S. bonds. c. U.S. citizens would buy fewer Japanese bonds and Japanese citizens would buy more U.S. bonds. d. U.S. citizens would buy fewer Japanese bonds and Japanese citizens would buy fewer U.S. bonds.