The demand for foreign currency in the United States
a. increases as the level of imports increases
b. increases as the level of exports increases
c. decreases with the lowering of the inflation rate abroad
d. decreases as foreign interest rates rise
e. is unaffected by U.S. demand for goods and services abroad
A
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Which of the following would not be counted in the calculation of GDP?
A. Buying a brand new car. B. Paying for a flight to Las Vegas. C. Government spending on social security. D. Paying for a maid service to come clean your house.
Which of the following is true about marginal utility?
a. Marginal utility is total utility divided by the total quantity consumed. b. Marginal utility is the change in total utility divided by the change in total quantity demanded. c. Marginal utility is the satisfaction that a consumer experiences from all the units of a good or service consumed. d. None of the above are true.
The CPI was 120 in 2000 and 132 in 2001. Dorgan borrowed money in 2000 and repaid the loan in 2001. If the nominal interest rate on the loan was 12 percent, then the real interest rate was
a. 2 percent. b. 10 percent. c. 12 percent. d. 22 percent.
The welfare loss of a tariff equals that of an import quota that leads to the same level of imports
Indicate whether the statement is true or false