Which of the following would increase the U.S. demand for foreign currency?
a. an increase in the U.S. demand for foreign goods
b. an increase in incomes abroad
c. a decrease in U.S. incomes
d. a decrease in the U.S. demand for foreign goods
e. an increase in U.S. real interest rates
A
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What is one reason the federal government might "bail out" farmers in flood prone areas of the country?
A) Such flooding is not diversifiable and therefore only non-profit entities, such as the federal government, can cover the risks. B) Such flooding is diversifiable, but insurance company CEOs are more concerned with their stock-holder wealth than the well-being of farmers. C) Such flooding is diversifiable, but the market for such insurance policies cannot clear without the assistance of the International Community. D) Such flooding is known to happen on a regular basis and therefore there is no "risk" to be insured against.
Reserves that banks are required by law to keep on hand to back up their deposits are called
a. required reserves. b. borrowed reserves. c. actual reserves. d. excess reserves.
If the law of diminishing marginal product holds true and workers emigrate from Haiti, the wage rate of workers who remain in Haiti would be expected to:
A. fall because fewer workers are working with the same amount of capital. B. rise because fewer workers are working with the same amount of capital. C. rise because more workers are working with the same amount of capital. D. fall because more workers are working with the same amount of capital.
Firms who are attempting to engage in price discrimination will offer customers with a ________ demand a higher price and customers with a(n) ________ demand a lower price.
A. lower; higher B. normal; inferior C. less elastic; more elastic D. more elastic; less elastic