Refer to the information provided in Figure 34.4 below to answer the question(s) that follow.
Figure 34.4Refer to Figure 34.4. The demand and supply of pounds are S1 and D1. Which of the following can change the equilibrium exchange rate ($/pound) to $1.50 and the equilibrium quantity to 400 pounds?
A. the price level in Great Britain decreases
B. income in the United States decreases
C. British purchases of U.S.-made cars increase
D. United States purchases of British-made cars increase
Answer: B
You might also like to view...
To say that a firm is competitive in the labor market is to say that the firm can choose
a. both the wage it pays its workers and the number of workers it hires. b. neither the wage it pays its workers nor the number of workers it hires. c. the wage it pays its workers, but it cannot choose how many workers to hire. d. the number of workers it hires, but it cannot choose the wage it pays its workers.
In 1980, ________ of full-time employees in large and midsize private firms participated in ________ plans.
A. 84 percent; defined contribution B. 16 percent; 401(k) C. 16 percent; Social Security D. 84 percent; defined benefit
In the Cournot equilibrium, the price that each firm accepts is
A. the same as the competitive price. B. lower than the monopoly price, but higher than the competitive price. C. slightly higher than the monopoly price, but lower than the competitive price. D. the same as the monopoly price.
Usefulness of Econ?
What will be an ideal response?