When Toyota introduced the new Prius in the United States, which of the following occurred?
A The hybrid car was not as successful as expected.
B The costs of manufacturing were too high and Toyota had to stop production.
D All of the above
C Toyota confronted the risk of making large investments and the uncertainly over future oil prices.
C Toyota confronted the risk of making large investments and the uncertainly over future oil prices.
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If you were to draw the long-run Phillips curve, it would look like a
a. horizontal line b. short-run Phillips curve c. bell-shaped curve d. U-shaped curve e. vertical line
When foreign countries buy wheat grown in the United States, they are generating a
A. Demand for U.S. dollars and a supply of a foreign currency. B. Demand for U.S. dollars and a demand for a foreign currency. C. Supply of U.S. dollars and a supply of a foreign currency. D. Supply of U.S. dollars and a demand for a foreign currency.
Refer to the accompanying figure, which shows the annual domestic supply and annual domestic demand for jeans in a small country.
If the world price of a pair of jeans is $40, and this country is open to trade with the rest of the world, then it will ________ pairs of jeans each year.
A. export 4,000 B. import 28,000 C. import 24,000 D. export 24,000
The problem portrayed by the short-run Phillips curve is that:
A. inflation tends to increase when unemployment falls. B. changes in the composition of the labor force tend to increase the natural rate of unemployment. C. stagflation is unavoidable. D. unemployment tends to increase when prices are rising.