Refer to the graph shown. A shift in the supply of dollars from S1 to S2 is most likely the result of:
A. a decrease in the U.S. price level relative to foreign prices.
B. an increase in U.S. incomes relative to foreign incomes.
C. the U.S. government's attempt to support its own currency.
D. an increase in U.S. interest rates relative to foreign interest rates.
Answer: B
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Additions to the nation's capital stock are brought about through
A) the current account surplus. B) investment. C) investment and the current account surplus. D) investment and the government budget surplus.
Which of the following ways to recruit soldiers utilizes incentives?
A) a draft B) universal service C) higher salaries D) longer lengths of service
Price elasticity of demand is defined as
a. the percentage change in price divided by the percentage change in quantity demanded b. the percentage change in quantity demanded divided by the percentage change in price c. the change in quantity demanded divided by the change in price d. the change in price divided by the change in quantity demanded e. the quantity demanded divided by the price
Which statement is true?
A. Employment discrimination plays virtually no role in determining the distribution of income. B. Training, education, and intelligence play a very large role in determining the distribution of income. C. In our society, it's basically who you know, rather than what you know that determines the distribution of income. D. None of these statements are true.