A balance of payments deficit is defined as the amount by which
a. a country's exports exceed its imports.
b. a currency must appreciate in order to reach equilibrium.
c. quantity supplied of a country's currency exceeds quantity demanded.
d. quantity demanded of a country's currency exceeds quantity supplied.
c
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Based on the figure below. Starting from long-run equilibrium at point C, a decrease in government spending that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at__ creating _____gap.
A. B; no output B. D; an expansionary C. B; recessionary D. D; a recessionary
A vertical IS curve comes from the assumption that changes in the interest rate do NOT affect
A) money demand. B) the money supply. C) autonomous planned spending. D) the LM curve.
The demand for good X has been estimated to be ln Qxd = 100 ? 2.5 ln PX + 4 ln PY + ln M. The advertising elasticity of good X is:
A. 0.0. B. 1.0. C. ?2.5. D. 4.0.
Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. The economy is currently at Point B. The opportunity cost of moving from Point B to Point A is the
A. 30 LCD TVs that must be forgone to produce 40 additional OLED TVs. B. 20 OLED TVs that must be forgone to produce 30 additional LCD TVs. C. 120 LCD TVs that must be forgone to produce 20 additional OLED TVs. D. 40 OLED TVs that must be forgone to produce 120 additional LCD TVs.