If 81 percent of Canada's exports go to the United States, a recession in the United States would probably:
a. lead to an economic boom in Canada.
b. have no impact on Canada's economy.
c. increase imports from Canada.
d. decrease Canada's domestic real GDP.
e. increase the per capita income in Canada.
d
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The inflation rate is a:
a. percentage decrease in price level. b. percentage increase in price level. c. sustained increase in relative prices. d. sustained decrease in relative prices. e. sudden increase in the weighted average of all prices.
The term loanable funds refers to money that is available for borrowing by households, businesses, and governments
a. True b. False Indicate whether the statement is true or false
The quantity equation is always true because it:
A. has been empirically tested. B. is a law of economics. C. is the definition of velocity rewritten. D. has been historically verified.
According to utilitarian justice, the redistribution of income from the rich to the poor causes
A. the marginal utility of both the rich and the poor to decrease. B. an increase in total utility because of the law of decreasing marginal utility. C. the rich to sacrifice a lot and the poor to gain a little. D. the marginal utility of both the rich and the poor to increase.