If incomes rise rapidly in the United States and U.S. preferences for foreign goods strengthen, we would expect:
A. the dollar to appreciate in value.
B. the dollar to depreciate in value.
C. the dollar price of foreign monies to decrease.
D. U.S. exports to increase.
B. the dollar to depreciate in value.
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Regarding the price elasticities of demand, which of the following statements is true?
A. Price elasticities vary considerably from product to product. B. Luxurious goods are generally less price elastic. C. Necessities are generally more price elastic. D. All of these statements are true.
Which of the following is higher in Mali than in the United Kingdom?
a. Modern sanitation access b. Income per person c. Child mortality d. Percent of the population enrolled in college
An increase in nominal GDP increases the demand for money because:
A. interest rates will rise. B. more money is needed to finance a larger volume of transactions. C. bond prices will fall. D. the opportunity cost of holding money will decline.
A move from D2 to D3 is a(n) _____.
A. an increase in quantity demanded
B. a decrease in quantity demanded
C. an increase in demand
D. a decrease in demand