Suppose the Dutch economy is in equilibrium in 2002 and intended investment in Holland in 2002 was 1,000 euros. Now suppose in 2003, the intended investment by Dutch businesses increased to 1,300 euros. You would know then that in Holland,
a. business inventories fell but there will be no change in its equilibrium level of national income
b. business inventories fell along with its equilibrium level of national income
c. business inventories fell but its equilibrium level of national income rose
d. business inventories rose along with its equilibrium level of national income
e. business inventories rose but there will be no change in its equilibrium level of national income
C
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A downward-sloping demand curve for Korean won in terms of Canadian dollars indicates that the higher the dollar price of Korean won, the more won will be demanded
a. True b. False Indicate whether the statement is true or false
Trade makes costs
a. higher and reduces the variety of goods and services available. b. higher but raises the variety of goods and services available. c. lower but reduces the variety of goods and services available. d. lower and raises the variety of goods and services available.
good sold to final users
What will be an ideal response?
A utility maximizing person gets marginal utility from consuming their last orange and apple of 5 and 10 respectively. If apples cost 90 cents a piece, the oranges must cost
a. $0.45 a piece. b. $0.90 a piece. c. $1.80 a piece. d. $2.70 a piece.