Suppose that good X has few close substitutes and that good Y has many close substitutes. Which good would you expect to have more price inelastic demand?
good X
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________ in the domestic interest rate causes the demand for domestic assets to ________ and the domestic currency to appreciate, everything else held constant
A) An increase; increase B) An increase; decrease C) A decrease; increase D) A decrease; decrease
A decrease in the demand for the output that an input produces will cause the input's: a. supply curve to shift to the right. b. supply curve to shift to the left
c. demand curve to shift to the right. d. demand curve to shift to the left.
As a general rule, technological progress
a. shifts the production possibilities curve outward, away from the origin. b. reduces the slope of the production possibilities curve, making it flatter. c. increases the slope of the production possibilities curve, making it steeper. d. shifts the production possibilities curve inward, toward the origin.
Our balance on current account
A. has recently turned negative. B. has been negative for years. C. has recently turned positive. D. has been positive for years.