Consider the market for dollars. If the exchange rate rises from 2 pesos per dollar to 4 pesos per dollar
A) the supply curve of dollars shifts leftward.
B) the supply curve of dollars shifts rightward.
C) there is an upward movement along the supply curve for dollars.
D) there is a downward movement along the supply curve for dollars.
C
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Answer the following statement(s) true (T) or false (F)
1. The extent to which a change in price affects quantity demanded may vary considerably from product to product and over the various price ranges for the same product. 2. A demand curve, or a portion of a demand curve, can be elastic, inelastic, or supply elastic. 3. A good is elastic if the percentage change in quantity demanded is greater than the percentage change in price. 4. A good is inelastic if quantity demanded changes proportionally less than the price changes 5. The steeper the demand curve passing through a given point, the more elastic the demand.
Transfer payments represent income that is not earned but received by individuals.
Answer the following statement true (T) or false (F)
Which of the following statements would come from someone classified as unemployed?
A. I'm not working. I had three interviews this week, and I'm trying to find a job. B. I haven't had a job in a year, and I stopped looking for a job nine months ago. C. I'm a full-time student at the University of Illinois who doesn't have time to work. D. I can't stand my current job as a telemarketer. I used to be a nuclear engineer.
Fiscal policy is enacted through changes in
A. unemployment and inflation. B. the supply of money and foreign exchange. C. taxation and government purchases. D. interest rates and the price level.