As the economy nears the end of a recession, which of the following do we typically see?
A) increased spending on capital goods by firms B) further decreases in consumer spending
C) increasing interest rates D) all of the above
A
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Suppose that a country with a closed economy opens itself to international trade and becomes a net exporter. In that case, domestic suppliers will supply ________ of that good after it opens itself to international trade.
A. same amount B. less C. more D. none
Refer to the figure above. In equilibrium, ________
A) Firm 1 will follow Strategy Y, and Firm 2 will follow Strategy X B) Firm 1 will follow Strategy X, and Firm 2 will follow Strategy Y C) both firms will follow Strategy X D) both firms will follow Strategy Y
Refer to the table above. When the price is ________ and the quantity is ________, social surplus is maximized
A) $8; 5 units B) $6; 4 units C) $4; 4 units D) $2; 8 units
If the price in U.S. dollars for one Singapore dollar is 0.625 U.S. dollars, then the price in Singapore dollars for one U.S. dollar is:
a. 1.0 Singapore dollars. b. 0.625 Singapore dollars. c. 1.6 Singapore dollars. d. 0.375 Singapore dollars. e. 2.66 Singapore dollars.