When a car importer in the UK buys cars from Toyota made in Japan she pays with
A. gold.
B. dollars.
C. pounds.
D. yen.
D. yen.
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The cross elasticity of demand between apples and oranges is defined as the
A) percentage change in the quantity of apples demanded divided by the percentage change in the price of oranges. B) price elasticity of demand for apples divided by the price elasticity of demand for oranges. C) percentage change in the quantity of apples demanded divided by the percentage change in the quantity of oranges demanded. D) change in the quantity of apples demanded divided by the change in the quantity of oranges demanded.
Explain how does a rise in real income affect aggregate demand?
What will be an ideal response?
By the eve of World War I, the United States accounted for more than ___ of the world's industrial production. a.15% b.30% c.60% d.90%
When aggregate expenditure exceeds the level needed to generate a full-employment, noninflationary equilibrium, then a recessionary gap exists
Indicate whether the statement is true or false