When Americans decrease their demand for Japanese goods
A) the supply of dollars will fall, and the demand for yen will fall.
B) the supply of dollars will rise, and the demand for yen will rise.
C) the demand for dollars will rise, and the demand for yen will rise.
D) the demand for dollars will fall, and the demand for yen will rise.
A
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Under which of the following circumstances would private saving be positive in a closed economy?
A) Y = $6 trillion C = $2 trillion TR = $8 trillion G = $3 trillion public saving = $1 trillion B) Y = $10 trillion C = $5 trillion TR = $2 trillion G = $2 trillion public saving = $1 trillion C) Y = $8 trillion C = $2 trillion TR = $4 trillion G = $2 trillion public saving = $4 trillion D) Y = $9 trillion C = $5 trillion TR = $1 trillion G = $1 trillion public saving = $3 trillion
Since demand curves are mostly downward sloping, economists tend to ignore the negative sign when calculating the price elasticity of demand
a. True b. False Indicate whether the statement is true or false
Economic profits disappear quickly when a market is
A) perfectly competitive. B) monopolistically competitive. C) a monopoly. D) an oligopoly.
The amount of money income received in a given time period, measured in current dollars, is
A. Nominal income. B. Asset income. C. Fixed income. D. Real income.