A nation will import a good if its no-trade, domestic
A) price is equal to the world price.
B) price is less than the world price.
C) price is greater than the world price.
D) quantity is less than the world quantity.
E) quantity is greater than the world quantity.
C
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Which of the following correctly describes a foreign exchange market?
a. A place where foreign goods are bought and sold in any country b. A market in which foreign tourists can buy domestic goods c. A global market in which people exchange one currency for another d. A place where contracts to deliver agricultural products across countries are exchanged e. A market where the central banks of different countries exchange government bonds
Which of the following contributed to the soaring housing prices during 2002-2004?
a. the Fed's high-interest rate policy b. the tightening of loan standards by commercial lenders c. the increasing popularity of fixed-rate, long-term loans to lock in low interest rates d. the Fed's low-interest rate policy
In economics, the cost of something is?
A. The out-of-pocket expense of obtaining it. B. What you must give up to get it. C. Always measured in units of time. D. Always higher than people think.
Which of the following is the best example of an automatic stabilizer?
A. welfare payments B. foreign aid C. defense spending D. highway construction