Other things the same, which of the following would shift the supply of dollars in the market for foreign exchange to the right?
a. foreigners want to buy more U.S. bonds
b. foreigners want to buy fewer U.S. bonds
c. foreigners want to buy more U.S. goods and services.
d. foreigners want to buy fewer U.S. goods and services.
b
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The business cycle reflects both short-run fluctuations in output and long-run economic growth.
The numerical value of a price elasticity represents the percentage amount by which the quantity demanded changes when the price
a. increases by 1 unit b. changes by 1 percent c. is in equilibrium d. is fixed in the market e. falls by 1 dollar
If MUA/PA> MUB /PB, an individual should choose to consume more of good A.
Answer the following statement true (T) or false (F)
Refer to the table above. Based on the given information, we see that:
The table below shows the output (either machines or wine) that each unit of input in France and Germany can produce:
A. France has an absolute advantage over Germany in producing either output
B. Germany has an absolute disadvantage in producing wine
C. Germany has no absolute advantage over France in producing either output
D. France will see no economic basis for trading with Germany