The demand schedule for a good shows:
a. the specific quantity of the good that people are willing and able to sell at different prices.
b. the positive relationship between the price and the quantity of the good.
c. no relationship between the price and the quantity of the good.
d. the specific quantity of the good that people are willing and able to buy at different prices.
e. the quantity of the good that is sold in the market.
d
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Imagine a world with two large countries, Home and Foreign. Evaluate how Home's macroeconomic policies affect Foreign. Compare the small and the large country cases; consider both permanent monetary and fiscal policies
What will be an ideal response?
A decrease in the money supply:
a. raises the interest rate, causing an increase in investment and an increase in GDP. b. lowers the interest rate, causing an increase in investment and an increase in GDP. c. raises the interest rate, causing a decrease in investment and a decrease in GDP. d. lowers the interest rate, causing a decrease in investment and an increase in GDP. e. lowers the interest rate, causing a decrease in investment and a decrease in GDP.
Country Costa and Country Delta initially have the same real GDP per capita. Country Costa experiences no economic growth, while Country Delta grows at a sustained rate of 3.5 percent. In 20 years, Country Delta's GDP will be approximately ___________ that of Country Costa.
a. triple b. double c. one-half d. one-fourth
The exchange rate is the price of one currency in terms of another
a. True b. False Indicate whether the statement is true or false