If the rate of inflation overseas rises relative to the rate of inflation in the United States, U.S. net exports will tend to ____, causing the exchange value of the U.S. dollar to ____
a. rise; rise
b. rise; fall
c. fall; rise
d. fall; fall
a
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Refer to Table 21.1. What is the median income on Richlandia?
A) $40,000 B) $69,000 C) $75,000 D) $85,000
Indifference curves are
A) bowed in toward the origin if there is diminishing marginal rate of substitution. B) straight lines if the goods are perfect complements. C) right angles if the goods are perfect substitutes. D) always bowed out and away from the origin.
Refer to the above payoff matrix (in years of sentence) for two people (A and B) charged for robbery. Which of the following is the outcome of the dominant strategy without cooperation?
A) Both A and B confess. B) Both A and B do not confess. C) A confesses while B does not confess. D) A does not confess while B confesses.
If aggregate expenditure is less than GDP, inventories will
a. grow and prices will fall b. grow and GDP will rise c. grow and GDP will fall d. shrink and GDP will rise e. shrink and GDP will fall