The principal demanders of U.S. dollars in the foreign exchange market are:
A. the Federal Reserve.
B. foreigners wishing to purchase U.S. goods or assets.
C. U.S. households or firms wishing to purchase U.S. goods or assets.
D. U.S. households or firms wishing to purchase foreign goods or assets.
Answer: B
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A. remained surprisingly unchanged for the past several decades. B. changed significantly after each World War. C. been changing in recent decades. D. not changed since the Great Depression redefined inequality for the world.
Consumer surplus equals the quantity supplied minus the quantity demanded
a. True b. False Indicate whether the statement is true or false
In Econland population and average labor productivity are constant. If a larger proportion of the population enters retirement, then total output will ________ and output per person will ________.
A. decrease; remain constant B. decrease; decrease C. remain constant; remain constant D. increase; increase
A payment to the government on the production or sale of a good:
a. subsidy b. supply schedule c. law of supply d. elasticity of supply e. excise tax