A scooter uses much less gasoline than does a car. Suppose the price of gasoline rises substantially. Which of the figures above best illustrates how this change affects the demand curve for scooters?
A) Figure A only
B) Figure B only
C) Figure C only
D) Figure D only
E) Both Figure A and Figure D
A
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The multiplier is 5 and, as a result of a change in expenditure, equilibrium expenditure and real GDP change by $200 billion. What was the initial change in autonomous expenditure?
A) $20 billion B) $50 billion C) $1,000 billion D) $40 billion E) $200 billion
One reason unions might support an increase in the minimum wage is because such a policy would cause a leftward shift in the demand curve for union labor
Indicate whether the statement is true or false
A rightward shift of the Canadian demand curve for foreign exchange will
a. decrease the price of foreign exchange in Canada b. decrease the value of the Canadian dollar c. increase the value of the Canadian dollar d. make foreign goods less expensive in terms of Canadian dollars e. make Canadian goods more expensive in terms of foreign exchange
If a Japanese stereo priced at 1,000,000 yen can be purchased for $1,000, the exchange rate is:
a. 1,000 yen per dollar. b. 1,000 dollars per yen. c. 0.001 dollars per yen. d. none of these.