Following housing market collapse, U.S. personal saving rates have
A) increased.
B) decreased.
C) remained the same.
D) data not yet available.
A
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A 10 percent increase in income increases the quantity of orange juice demanded from 19,200 to 20,800 gallons. The income elasticity of demand for orange juice is
A) 0.5. B) 0.8. C) 1.0. D) 1.2.
The currency premium in foreign-exchange markets
A) helps to offset anticipated declines in exchange rates. B) helps to offset anticipated increases in exchange rates. C) indicates investors' collective preference for financial instruments denominated in one currency relative to those denominated in another. D) rises as domestic interest rates fall.
A production possibilities curve will shift inward
A. when the unemployment rate increases. B. when a war destroys the capital goods of a country. C. when production is inefficient. D. when resources are expanding.
Which statement is true?
A. There are at least a dozen different theories of poverty. B. The liberals and conservatives are in basic agreement about the causes of poverty. C. The liberals and conservatives are in basic agreement about how to solve the poverty problem. D. None of these statements are true.