Consumption is a flow measure.
Answer the following statement true (T) or false (F)
True
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If the production of oranges reduces global warming, then the equilibrium quantity of oranges will be ________ the socially optimal quantity.
A. higher than B. equal to C. more valuable than D. lower than
If people buy less of a good at every price when their incomes fall, then that good is a normal good
Indicate whether the statement is true or false
Assume the nominal dollar-per-euro ($/€) exchange rate appreciates by 2%, U.S. prices rise by 5% and Euro-Area prices rise by 3%. By approximately how much does the real exchange rate change?
a. 3% b. There is no change. c. 4% d. 5% e. 6%
Low labor standards are usually associated with
A) nondemocratic governments. B) high-income countries. C) high-wage countries. D) low foreign investment.