The supply curve of books (which are produced using paper made from trees) will shift to the left in response to:
a. a decline in college tuition
b. a sharp increase in the demand for and construction of wood-frame homes.
c. an increase in the supply of lumberjacks.
d. an end to government regulations that limit timber harvesting in national forests.
b
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Barter can best be defined as:
a. the direct exchange of one good for money. b. the direct exchange of money for a good. c. the direct exchange of goods and services without the use of money. d. the direct exchange of labor services for wages. e. the payment of interest on a savings account.
An optimal decision is one that is selected based on an analysis of
a. explicit costs but not implicit costs. b. implicit costs but not explicit costs. c. both explicit costs and implicit costs. d. neither explicit costs nor implicit costs.
Which of the following events, ceteris paribus, would increase the demand for the Mexican peso?
a. a decrease in Mexican tariffs on goods purchased from the United States b. an increase in taste for Mexican-made products in the United States c. a decrease in taste for Mexican-made products in the United States d. a decrease in average incomes across the United States
Purchases of foreign assets by U.S. residents are tabulated in the U.S. balance of payments as a:
A. capital inflow. B. capital outflow. C. current account outflow. D. unilateral transfer.