The working-age population is defined as the number of people
What will be an ideal response?
over the age of 16 who are not in jail, hospital, or other institution.
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Collusion refers to a situation where rival firms decide to
A. agree with each other to set prices and output. B. cheat on each other. C. compete aggressively against each other. D. combine their operations and merge with each other.
Which of the following will take place in the foreign exchange market if there is an increase in the demand for products made in the United States?
A) The supply of dollars will decrease. B) The demand for dollars will decrease. C) The demand for dollars will increase. D) The dollar will decrease in value.
Use the following graph, which shows a change in the demand for pounds from D to D', to answer the next question.
Under a system of flexible exchange rates, the ________.
A. the payment deficit will cause changes in domestic price and income levels, shifting demand to the left, shifting supply to the right, and reestablishing the original exchange rate B. the price of a pound will increase to $3 C. the shortage equal to b?a would be met using international monetary reserves D. the price of a dollar will increase to 3 pounds
Suppose the dollar is subject to a floating exchange rate system and that R is the number of dollars per unit of foreign exchange. If R increases, then the dollar
A) depreciates. B) appreciates. C) is devalued. D) is revalued.