Canadian exports involve an:
A. outflow of foreign currencies from Canada to foreigners.
B. inflow of foreign currencies from foreigners to Canada.
C. outflow of Canadian dollars from Canada to foreigners.
D. inflow of Canadian dollars from foreigners to Canada.
Answer: D
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Suppose the United States subsidizes domestic chicken production and then sells surpluses on the world market at a price below the cost of production
In foreign countries, the argument that would made to restrict chicken trade with the United States would be the A) penalizes lax environmental standards argument. B) saves jobs argument. C) infant-industry argument. D) dumping argument. E) national security argument.
Demand functions are "homogeneous of degree zero in all prices and income.". This means
a. a proportional increase in all prices and income will leave quantities demanded unchanged. b. a doubling of all prices will not alter consumption decisions. c. prices directly enter individuals' utility functions. d. an increase in income will cause all quantities demanded to increase proportionately.
Why are interest rates considered to be the opportunity cost of investments?
The nation, as a whole, is hurt by inflation if it:
a. Is expected. b. Reduces productivity. c. Changes consumers' preferences for durable versus non-durable goods. d. Rises at a rate that is greater than real GDP. e. All the above are true.