There will be an increase in supply when
A. the market price rises from $3 to $4.
B. the demand curve shifts.
C. there is an improvement in technology.
D. a consumer's income increases.
Answer: C
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Purchasing power parity is defined as
A) an equal value of money across currencies. B) a currency whose value rises. C) an equal value of interest rates across currencies. D) a currency whose value falls. E) a constant value for a currency.
A country with high economic growth:
A. will definitely experience high economic development. B. will never experience high economic development. C. not necessarily will experience high economic development. D. may not experience economic development without attention paid to policy actions.
Which mathematical expression describes what households do with their disposable income?
a. Y = C + I b. Y = C + I + G c. Y = C + S + G d. I = S e. Y = C + S
A $70 price tag on a sweater in a department store window is an example of money functioning as a:
A. medium of exchange. B. store of value. C. standard of deferred payments. D. unit of account.