Everything else held constant, a decrease in net exports ________ aggregate ________
A) increases; demand
B) decreases; demand
C) decreases; supply
D) increases; supply
B
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The slope of a budget constraint represents:
A) the price of the good measured along the horizontal axis. B) the price of the good measured along the vertical axis. C) the opportunity cost of one good in terms of another. D) the money income of the consumer.
If the representative basket of European goods and services costs 40 euros, the representative U.S. basket costs $50, and the dollar/euro exchange rate is $0.90 per euro, then the price of the European basket in terms of U.S. basket is
A) [(0.9 $/euro) (40 euro per a European basket)]/[(50 $/U.S. basket)]. B) [(0.9 $/euro) (50 $/U.S. basket)]/[(40 euro per a European basket)]. C) [(40 euro per a European basket)]/[(50 $/U.S. basket) (0.9 $/euro)]. D) [(50 $/U.S. basket)]. E) [(0.9 $/euro) (40 euro per a European basket) (50 $ U.S. basket)].
Figure 2-10
Movement from point K on the production possibilities curve for food and clothing in , to point J inside the curve could be the result of
a.
an increase in opportunity costs
b.
supply and demand
c.
greater efficiency
d.
a decrease in the population
e.
an increase in unemployment
Refer to Figure 17-1. If the wage rate is $40, how many workers should Dale hire?
A) 6 B) 5 C) 4 D) 3