As the U.S. dollar's foreign exchange value falls, we should expect to see
a. more Americans travelling abroad.
b. American import levels rising.
c. more foreigners visiting the United States.
d. increased foreign investment by American firms.
c
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The figure below shows the market for computers in a small importing country. Dd and Sd are the domestic demand and supply curves of computers, respectively.
The production effect of the tariff on computers is worth
A. $48 million. B. $44 million. C. $4 million. D. $8 million.
The above diagram is best described as an idealized:
A. prosperity cycle. B. recession cycle. C. business cycle. D. cyclical variation.
Economic growth can:
A. reduce the price level in the economy. B. increase poverty overall. C. create less jobs compare to a stagnated economy. D. improve standards of living.
If Toni has an absolute advantage in both sewing and ironing when compared to Tom, then
A) they might benefit from trading, but we need more information to determine in which task they should specialize. B) neither Toni nor Tom can benefit from trading with each other. C) Toni should specialize in sewing, and Tom should specialize in ironing. D) Toni cannot benefit from trading with Tom, but Tom can benefit from trading with Toni. E) Tom cannot benefit from trading with Toni, but Toni can benefit from trading with Tom.