Balance-of-payments accounts are maintained according to the principles of single-entry bookkeeping
Indicate whether the statement is true or false
false
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Two goods are said to be substitutes when a fall in the price of one good:
A) leads to a left shift in the demand for the other good. B) leads to a rise in the price of the other good. C) doesn't affect the demand for the other good. D) leads to a right shift in the demand for the other good.
If the quantity desired of something exceeds the amount available at zero price, that item is called
A) capital. B) an economic good. C) an intangible good. D) a bad.
In 1986, the base year, GDP was 4000. In 1989 the GDP deflator was 115. We may conclude that
A.there was some inflation between 1986 and 1989. B. there was some deflation between 1986 and 1989. C. real GDP declined between 1986 and 1989. D. GDP declined between 1986 and 1989.
In the market for yen, an increase in U.S. real interest rates tends to
A. decrease demand. B. increase equilibrium price. C. increase excess demand. D. cause no change in equilibrium price.