Comparative advantage can change over time
Indicate whether the statement is true or false
TRUE
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In the above, a positive relationship between price and quantity is shown in
A) Figure A. B) Figure B. C) both Figure A and Figure B. D) neither Figure A nor Figure B.
Monthly expenditures for a family of 4 in 2015 averaged $1,400. In 2016, the cost of the same purchases was $1,500. If 2015 is the base year, what was the CPI in 2016?
A) 110 B) 107 C) 100 D) 93
A __________ in the balance of payments means that we are paying out more money abroad than we are taking in, resulting in a(n) __________ of foreign exchange value relative to the dollar
A) deficit; depreciation B) surplus; appreciation C) surplus; depreciation D) deficit; appreciation
Other things being equal, the effects of an increase in the price of computers would best be represented by which of the following?
A. A movement up along the demand curve for computers. B. A movement down along the demand curve for computers. C. A leftward shift in the demand curve for computers. D. A rightward shift in the demand curve for computers.