The supply of foreign currencies is upward sloping and the demand for foreign currencies is downward sloping
a. True
b. False
Indicate whether the statement is true or false
True
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Refer to Figure 6-10. A perfectly inelastic supply curve is shown in
A) Panel A. B) Panel B. C) Panel C. D) Panel D.
National defense is considered a public good because there appears to be no limits to the nonrivalry-in-consumption characteristic, and exclusion of nonpayers is impossible. Are there any other goods that so perfectly meet both public goods criteria?
Economy A: gross investment equals depreciation Economy B: depreciation exceeds gross investment Economy C: gross investment exceeds depreciation Other things equal, the above information suggests that the production capacity in economy:
a) B is growing more rapidly than either A or C. b) A is growing more rapidly than either B or C. c) A is growing less rapidly than economy B. d) C is growing more rapidly than economy B.
Use the following general linear demand relation:Qd = 680 - 9P + 0.006M - 4PRwhere M is income and PR is the price of a related good, R. From this relation it is apparent that the good is:
A. an inferior good B. a substitute for good R C. a normal good D. a complement for good R E. both c and d