An appreciation of the Japanese yen relative to the U.S. dollar will
a. increase aggregate demand in the United States.
b. increase aggregate supply in the United States.
c. increase aggregate demand in Japan.
d. decrease aggregate supply in Japan.
a
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Starting from long-run equilibrium, a large tax cut will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; higher B. expansionary; higher; potential C. recessionary; higher; potential D. recessionary; lower; lower
Permits that allow a firm to emit a specific amount of pollution are called ____________
a. Pigouvian or pollution taxes b. tradable pollution permits c. pollution standards d. technology-based regulations e. None of the above.
Which of the following is the term describing very similar products being exported and imported by trading partners?
a. reciprocal trade b. imperfect competition c. intra-industry trade d. inter-industry trade
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, as the economy moves from Point E to Point A, the opportunity cost of hybrid cars, measured in terms of motorcycles
A. increases. B. initially increases, then decreases. C. decreases. D. remains constant.