What would it mean if a demand curve sloped upward and to the right?
A. Quantity demanded decreases as the price increases.
B. There is no relationship between price and quantity demanded.
C. Quantity demanded increases as the price decreases.
D. Quantity demanded increases as the price increases.
Answer: D
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Economists argue for free trade in export markets because
A) all consumers and producers benefit from exporting goods. B) the gains to the U.S. producers outweigh the losses to the U.S. consumers. C) the gains to the U.S. consumers outweigh the losses to the U.S. producers. D) no one is made worse off by exporting goods. E) exporting goods decreases total surplus.
When exchange rates are set by government decree,
a. appreciation is called devaluation. b. depreciation is called devaluation. c. depreciation is called deflation. d. appreciation is called inflation.
An example of money is:
A. a dollar bill. B. a checking account balance. C. a traveler's check. D. All of these.
The saving function shows the relationship between planned real saving and
A. the marginal propensity to save. B. real disposable income. C. the average propensity to save. D. real wealth.