An increase in U.S. exports to Japan ________ the demand for U.S. dollars and ________ the supply of yen.
A. increases; increases
B. decreases; decreases
C. increases; decreases
D. decreases; increases
Answer: A
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When external benefits exist, which of the following can produce the efficient amount of output?
I. vouchers II. private subsidies III. taxes IV. marketable permits. A) I and II only B) I and III only C) II and IV only D) III and IV only
The difference between personal income and disposable income is:
A) corporate taxes B) personal taxes C) savings D) none of the above
In economics, actions by individuals and interest groups designed to influence public policy in a manner that will either directly or indirectly redistribute more income to themselves are known as
a. logrolling. b. rent seeking. c. influence peddling. d. redistribution searching.
The rate at which aggregate supply changes to restore equilibrium at potential output depends crucially on _____
Fill in the blank(s) with the appropriate word(s).