Movement along the aggregate demand curve occurs in reaction to ______, ceteris paribus.
a. nonprice-level determinants
b. changes in the population
c. levels of business confidence
d. changes in the general price level
d. changes in the general price level
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The following table provides nominal exchange rates for the U.S. dollar.CountryForeign currency/dollarDollar/foreign currencyCanada(Canadian dollar)1.488.672Mexico(Peso)9.259.108Based on these data, the nominal exchange rate equals approximately ________ pesos per Canadian dollar or, equivalently, ________ Canadian dollars per peso.
A. 9.259; 0.108 B. 7.771; 0.129 C. 0.672; 1.488 D. 6.222; 0.161
The Benefits Principle
What will be an ideal response?
According to the following graphs, at point B,
The price of Y is $15 per unit.
A. the consumer's utility is greater than it is at point A. B. the consumer can exchange one unit of X for one unit of Y and keep income unchanged. C. the marginal rate of substitution of X for Y is greater than it is at point A. D. both a and b E. all of the above
Recall the Application about using value added to measure the size of Walmart to answer the following question(s). In listing both the amount and cost of Wal-Mart's 2017 sales, this Application is addressing the economic concept of:
A. real versus nominal GDP. B. GDP as a measure of welfare. C. chain-weighted indexes. D. value added.