Historical note: Changes in demand for and supply of agricultural goods in less- developed countries has had what effect on these countries' terms of trade?
a. lowered the terms of trade because it raised their export prices
b. lowered the terms of trade because it lowered their export prices
c. raised the terms of trade because it lowered their import prices
d. raised the terms of trade because it raised their import prices
e. it had had no effect on their terms of trade
B
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To produce 10 shirts, the total cost is $80; to produce 11 shirts, the total cost is $99. The average total cost of the 11th shirt is equal to
A) $8. B) $9. C) $80. D) $99. E) $19.
Under what circumstances will the equilibrium in a trust game be efficient?
What will be an ideal response?
A conclusion of the theory of rational expectations is that, in the short run, the impact of discretionary fiscal policies designed to shift the AD curve will:
a. result in no net change in AD once people's expectations adjustments have been accounted for b. shift AD in the opposite direction intended once people's expectations adjustments have been accounted for. c. be anticipated and compensated for, causing no significant effect on real or nominal GDP or employment. d. have to be a surprise to change real output in the intended direction.
The value of future payments is affected by
A. The possibility of nonpayment. B. The par value. C. The level of dividends. D. Capital gains.