If the exchange rate rises, the quantity of dollars demanded
A) increases and there is movement down along the demand curve for dollars.
B) decreases and there is movement down along the demand curve for dollars.
C) decreases and there is movement up along the demand curve for dollars.
D) increases and there is movement up along the demand curve for dollars.
E) does not change.
C
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If households in the economy decide to take money out of checking account deposits and put this money into savings accounts, this will initially
A) decrease M1 and decrease M2. B) increase M1 and decrease M2. C) decrease M1 and not change M2. D) decrease M1 and increase M2.
Less than 1/3 of those age 85 or older are currently married
Indicate whether the statement is true or false
The concave shape of the production possibilities frontier reflects
a. the law of comparative advantage b. the law of absolute advantage c. the law of increasing opportunity cost d. the simplifying assumption of scarce resources e. productive inefficiency
A tax is progressive if it takes a
A. Smaller fraction of income as income falls. B. Larger number of dollars as income falls. C. Smaller fraction of income as income rises. D. Smaller number of dollars as income rises.