Which of the following will lead to a depreciation of the dollar against the British pound?
A) an increase in British demand for U.S. imports
B) an increase in U.S. interest rates
C) a decrease in British demand for U.S. assets
D) a decrease in U.S. demand for British goods
C
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Of the $840 billion American Recovery and Reinvestment Act stimulus package which was enacted in 2009, approximately ________ took the form of tax cuts and ________ took the form of increases in government expenditures
A) one-third; two-thirds B) one-tenth; nine-tenths C) one-half; one-half D) three-fourths; one-fourth
The above figure depicts the Edgeworth box for two individuals, Al and Bruce. The contract curve can be found by connecting points
A) a and b. B) a and c. C) b and d. D) c and d.
A decrease in the number of producers will shift supply to the left
a. True b. False Indicate whether the statement is true or false
Which of the following statements about the consumers' responses to rising gasoline prices is correct?
a. About 10 percent of the long-run reduction in quantity demanded arises because people drive less and about 90 percent arises because they switch to more fuel-efficient cars. b. About 90 percent of the long-run reduction in quantity demanded arises because people drive less and about 10 percent arises because they switch to more fuel-efficient cars. c. About half of the long-run reduction in quantity demanded arises because people drive less and about half arises because they switch to more fuel-efficient cars. d. Because gasoline is a necessity, consumers do not decrease their quantity demanded in either the short run or the long run.