Use the following graph to answer the next question.
All else held constant, a leftward shift of the demand curve would ________.
A. cause a surplus of euros
B. appreciate the euro
C. depreciate the dollar
D. reduce the equilibrium quantity of euros
Answer: D
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Incentives matter and different groups of producers, consumers and politicians will support those policies that promise to advance those projects most advantageous to them. Which statement about opposition to or support for U.S
tariff policy during the antebellum period is correct? (a) "Producers in the South objected to tariffs placed on imported goods. They needed them at relatively low prices for their own production." (b) Plantation owners supported a high tariff as protection against cheap cotton imports. (c) Politicians wanted to protect jobs abroad as well as in the U.S. Therefore, they did not support U.S. tariff policies. (d) All of the above are correct.
If the quantity you buy of a good increases when your income increases, the good is clearly a(n)
a. essential good b. inferior good c. substitute good d. complementary good e. normal good
If the United States government were to impose a quota on wristwatches imported from Switzerland, the:
United States would reduce its export of watches Prices of watches in Switzerland would rise Price of watches in the United States would remain the same, but the quantity will fall Total quantity of watches (domestically produced and imported) purchased would decline
From an economic perspective, the best response to increased wage inequality is to:
A. stop all international trade. B. provide transition aid to disadvantaged workers. C. make skill-biased technological change illegal. D. block future technological change.