If the demand for the yen increases relative to the dollar, which of the following would occur?
A) The dollar will depreciate. B) The demand for the dollar will increase.
C) The yen will depreciate. D) The dollar will appreciate.
A
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A country's unemployment rate fell from 6% to 5% during a year. If its total population, capital stock and output remain unchanged, ________
A) its income per worker will increase B) its income per capita will increase C) its income per worker will fall D) its income per capita will fall
Refer to Figure 2-4. A movement from X to Y
A) is the result of advancements in plastic production technology only, with no change in food production technology. B) could be due to a change in consumers' tastes and preferences. C) is the result of advancements in food production technology only, with no change in the technology for plastic production. D) could occur because of an influx of immigrant labor.
If the government is successful in cutting the economic pie into more equal slices, than it is quite possible that a. the pie gets larger
b. the pie gets smaller. c. it increases the reward for working hard, resulting in people producing more goods and services. d. none of the above.
A market equilibrium might not maximize total economic surplus because:
A. in a market equilibrium individuals do not act rationally. B. efficiency is not an important social goal. C. in a market equilibrium individuals do not exploit all opportunities for individual gain. D. sometimes goods entail costs and benefits that do not fall on buyers and sellers.