To answer the question, refer to the following table showing a demand schedule: 
If price rises from $100 to $150,
A. an arrow representing the price effect points upward and is shorter than an arrow for the quantity effect, which points downward.
B. the arrow representing the price effect points down and the arrow representing the quantity effect points up.
C. total revenue moves up as indicated by the direction of the arrow representing the price effect.
D. arrows representing the price and quantity effects both point upward.
E. both c and d
Answer: C
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The ratio of a country's average export price to its average import price is
(a) its absolute advantage. (b) its comparative advantage. (c) its terms of trade. (d) its exchange rate.
Using a figure describing both the U.S. money market and the foreign exchange market, analyze the effects of a temporary increase in the European money supply on the dollar/euro exchange rate
What will be an ideal response?
If the demand for high definition televisions increases and the supply of high definition televisions increases, then
A) it is clear that prices will increase; the change in the quantity of televisions sold is ambiguous. B) it is clear that prices will decrease; the change in the quantity of televisions sold is ambiguous. C) it is clear that quantity sold will increase; the change in the price of televisions is ambiguous. D) it is clear that quantity sold will decrease; the change in the price of televisions is ambiguous.
Given full-employment output = $2,800, equilibrium output = $2,500, and MPS = 0.25, which of the following changes would most likely bring the economy to a full- employment level of national output?
a. $300 decrease in taxes b. $75 increase in government spending c. $75 decrease in taxes d. $300 increase in government spending e. $75 decrease in government spending