When the English pound appreciated against a colonial currency, this signaled
(a) that colonists needed more colonial currency to buy an English pound.
(b) that colonists needed less colonial currency to buy an English pound.
(c) that colonists needed more colonial and Spanish currency to buy an
English pound.
(d) nothing of economic importance.
(a)
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Net exports plus net capital inflows equal:
A. net capital outflows. B. the international trade gap. C. the trade balance. D. zero.
The reason why some economists believe that attempts by the Fed to surprise the public in a systematic way cannot be successful is that
A) information about the Fed's plans will inevitably be leaked to the public. B) the Fed announces its goals before Congress and publishes its policy actions in the Federal Reserve Bulletin six weeks after they take place. C) the public would eventually figure out what the Fed's policies were, negating the Fed's surprise. D) competition in the money markets would neutralize the Fed's intervention.
The increase in the quantity of labor supplied in response to a higher wage is called the:
A. price effect. B. labor effect. C. income effect. D. substitution effect.
A demand curve is said to be inelastic if:
a. ED = 1 b. ED = 0 c. ED > 1 d. ED < 1