Assuming supply is a straight line and intersects the y axis, the equation of the inverse supply curve is represented as
A. P + Qs = c + d.
B. Q = c - bPs.
C. P = c - dQs.
D. P = c + dQs.
Answer: D
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If the U.S. Congress imposes a quota on imports of Japanese cars due to claims of "unfair" trade practices, and Japanese demand for American exports increases at the same time, then, in the long run ________, everything else held constant
A) the Japanese yen will appreciate relative to the U.S. dollar B) the Japanese yen will depreciate relative to the U.S. dollar C) the Japanese yen will either appreciate, depreciate or remain constant against the U.S. dollar D) there will be no effect on the Japanese yen relative to the U.S. dollar
Which of the following changes would cause American net exports to decrease?
A) A decrease in the real value of the dollar B) A decrease in American income C) An increase in foreign income D) A shift in demand by American consumers away from domestically produced goods
On the Lorenz curve, which of the following indicates that income inequality has increased from Year A to Year B?
a. The Year B line is to the left of the perfect equality line, and the Year A line is to the right. b. The Year A line is longer than the Year B line. c. The Year B line is farther from the perfect equality line than is the Year A line. d. The Year A line is farther from the perfect equality line than is the Year B line.
What effect does foreign exchange market intervention by the U.S. Federal Reserve to increase the value of the U.S. dollar have on the U.S. monetary base?
a. The U.S. monetary base decreases. b. The U.S. monetary base increases. c. It does not have an effect on the U.S. monetary base at all. d. The effect on the U.S. monetary base is ambiguous and depends on where counterparties deposit the funds.