If the value of the cross elasticity of demand is negative, the two goods are
A) complementary goods.
B) substitute goods.
C) normal goods.
D) inferior goods.
A
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Appreciation of the U.S. dollar will ________ exports and ________ imports, other things equal
A) increase; increase B) increase; decrease C) decrease; decrease D) decrease; increase
The United States has free trade agreements with what countries?
a. Canada and Mexico b. Canada, Mexico, Great Britain c. Canada, Israel, Jamaica, Bahamas d. Canada, Mexico, Israel
Refer to the figure above. The consumer surplus before the tax is imposed is given by the area ________
A) BCJ B) BAH C) CAE D) JBHF
When unemployment is below its natural rate, the inflation rate will eventually
A) move to its natural rate. B) decrease. C) become equal to the natural rate of unemployment. D) increase.