Spending on goods from a country will ________ as the value of its currency gets cheaper against the U.S. dollar
A) increase B) decrease
C) reverse D) go to other countries
A
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Government actions to compel more competition in an industry
A) always entail costs, which must be compared to any gains created by the policy. B) always have the effect of lowering prices to consumers. C) cannot benefit anyone if they result in greater inefficiency. D) will result in lower prices but cannot bring about a larger output. E) will not succeed because competition, like morality, cannot be legislated.
If one is interested in comparing the economic well-being of citizens across countries which of the following measures would be the most useful: nominal GDP, real GDP, or real GDP per capita? Explain
What will be an ideal response?
Suppose the consumer price index (CPI) for Year X is 130. This means the average price of goods and services is:
A. currently $130. B. 130 percent more in Year X than in the base year. C. 130 percent more in the base year than in Year X. D. priced at 30 percent more in Year X than in the base year.
Choose the letter below that best represents the type of shift that would occur in the following situation in the United States: The value of the dollar plummeted in international currency markets, causing foreigners to buy more American goods. (See Figure 8.6.)
A. A. B. B. C. C. D. D.