Japanese electronics exports were hurt in 2008 as a result of the recession. How would this decrease in exports have affected Japan's aggregate demand curve?
A) The aggregate demand curve would have shifted to the right.
B) The aggregate demand curve would not have shifted, but there would have been a movement up the aggregate demand curve.
C) The aggregate demand curve would have shifted to the left.
D) The aggregate demand curve would not have shifted, but there would have been a movement down the aggregate demand curve.
C
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In 2014, foreign purchases of U.S. corporate stocks and bonds
A) doubled. B) grew at a faster pace than foreign investment in U.S. corporate bonds. C) grew at a faster pace than foreign investment in U.S. government bonds. D) fell.
If pepperoni pizzas sell for $10 in Berkeley, California, and £10 in London, England, and the exchange rate is $1.35 = £1,
A) the law of one price has been violated. B) either the British government or the American government must be interfering with the market determination of the exchange rate. C) the value of the dollar versus the pound is likely to rise. D) there is no contradiction in the information given because pizza is not a tradeable good.
In general, economic profits are:
A. greater than accounting profits. B. less than accounting profits. C. the same as accounting profits. D. not comparable to accounting profits.
One In the News article titled "Perceptions of Government Failure" indicates that people think that the government is not very trustworthy when it comes to solving domestic issues. If this is true, this is an example of
A. The free-rider dilemma. B. The problem of externalities. C. Market failure. D. Government failure.