If banks and speculators in the U.S. decided to exchange U.S. dollars for the foreign currencies of other countries, but foreigners do not desire to increase their holdings of U.S. dollars, then U.S. net exports would
a. rise and aggregate demand would shift left.
b. rise and aggregate demand would shift right.
c. fall and aggregate demand would shift left.
d. fall and aggregate demand would shift right.
b
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The point of tangency between a consumer's budget constraint and his or her indifference curve represents
a. complete satisfaction for the consumer. b. the equivalence of prices the consumer pays. c. constrained utility maximization for the consumer. d. the least he or she can spend.
Which three words or phrases can be used to describe social security?
a. in-kind transfer, welfare, means tested b. cash transfer, social insurance, retirement income c. in-kind transfer, low income requirement, health care service d. cash transfer, low financial resources required, provides food
A shift outward in the production possibilities curve is the direct result of improvements in the efficiency factor for economic growth.
Answer the following statement true (T) or false (F)
The market system works by getting each person, motivated by his or her own self-interest, to produce products for other people.
Answer the following statement true (T) or false (F)