If an increase in consumer incomes leads to a decrease in the demand for camping equipment, then camping equipment is
a. a complementary good
b. a substitute good
c. a normal good
d. an inferior good
e. none of the above
d. an inferior good
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Which statement is true?
A. A country like Japan would go to the World Bank to borrow currency to stabilize the yen. B. The WTO has a Dispute Settlement Body to handle trade disagreements among member nations. C. GATT was established at the end of the Great Depression. D. The IMF was set up to aid developing countries build infrastructure.
The main reason why one nation trades with another is to
A. save its natural resources from rapid depletion. B. exploit the advantages of specialization. C. eliminate the danger of retaliation from other nations. D. improve political alliances.
Fiscal policy most directly affects the economy by increasing or decreasing:
A. long-run aggregate supply. B. the money supply. C. interest rate. D. aggregate demand.
Empirical evidence suggests that the federal budget has remained more or less in surplus between 1990 and 2002
a. True b. False Indicate whether the statement is true or false