Over the past decade, U.S. per capita consumption of water:
A. and energy have both increased.
B. has increased, while per capita consumption of energy has fallen.
C. and energy have leveled off or fallen.
D. has fallen, while per capita consumption of energy has increased.
Answer: C
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The average percentage markup in the economy
a. is greater, the more competitive are market conditions b. is greater, the less competitive are market conditions c. is unaffected by the competitive conditions of the economy d. tends to be highly unstable from year to year e. tends to be stable from year to year, ensuring that the price level is stable from year to year
If the U.S. has a capital account surplus, it means that
A. foreigners purchase more of U.S. assets than U.S. residents purchase foreign assets. B. U.S. exports of capital goods exceed its imports of capital goods. C. U.S. residents purchase more foreign assets than foreigners purchase U.S. assets. D. the quantity supplied of U.S. financial assets exceed the quantity demanded.
How would a substantial appreciation in the European euro in the foreign exchange market affect the quantity of imports of European products by the U.S.? How would such an appreciation of the European euro affect travel by Americans to Europe?
What will be an ideal response?
Refer to Goods X and Y. Which of the following would cause the vertical intercept to move upwards?
Assume that good X is on the horizontal axis and good Y is on the vertical axis in the consumer-choice diagram. PX denotes the price of good X, PY is the price of good Y, and I is the consumer's income. Unless otherwise stated, the consumer's preferences are assumed to satisfy the standard assumptions. a. A decrease in the price of good Y. b. An increase in the price of good X. c. An increase in the price of good Y. d. A decrease in the price of good Y.