What is the usual shape of the production possibilities curve?
a. upward-sloping
b. bowed-out from the origin
c. bowed-in from the origin
d. a straight-line, downward-sloping curve
e. U-shaped
B
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Scenario: Glocus Inc. a manufacturer of health and beauty aids, is expanding its presence in several countries around the world. Glocus' president is surprised at some of the responses the company is receiving from other countries. France gave Globus Inc. permission to export its product as long as the company obtained a special license first. Excelsior has been waiting six months for the license and is wondering if it will ever arrive. Globus Inc. is experiencing a(n) ________.
a. Administrative delay b. local content requirement c. embargo d. currency control
Which of the following policies would not improve the terms of trade from the point of view of import-competing industries in the United States?
A. Placing tariffs on imports of foreign goods. B. Restricting imports of foreign goods. C. Increasing the degree of free trade. D. "Buy American" campaigns.
?How does an increase in income affect the market for iPads (normal good)?
a. The demand curve for iPads shifts to the right
b. The demand curve for iPads shifts to the left
c. The supply curve for iPads shifts to the right
d. The supply curve for iPads shifts to the left
If the U.S. dollar appreciates in value relative to foreign currencies, then this will:
A. cause a movement downward along the aggregate demand curve. B. cause a movement upward along the aggregate demand curve. C. increase aggregate demand. D. decrease aggregate demand.