The U.S. desire for foreign currency represents
A. A point of disequilibrium in the foreign exchange market.
B. A supply of U.S. dollars.
C. A demand for U.S. dollars.
D. The foreign demand for U.S. exports.
Answer: B
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National income is income ________ the factors of production.
A. earned by B. invested in C. paid by D. households owe to
The transactions demand for money will shift to the
A. left when nominal GDP increases. B. right when the interest rate decreases. C. left when nominal GDP decreases. D. right when the interest rate increases.
If you have $5,000 in wealth and the price level decreases by 20 percent, then
A) the $5,000 will buy fewer goods and services. B) the $5,000 will buy more goods and services. C) the real value of the $5,000 decreases. D) the real value of the $5,000 remains constant.
Which statement is correct regarding allocative efficiency in monopolistic competition?
a. When new competitors enter a monopolistically competitive industry, the demand curve for each firm will shift to the left. b. When new competitors enter a monopolistically competitive industry, the demand curve for each firm will shift to the right. c. When new competitors exit a monopolistically competitive industry, the demand curve for each firm will shift to the left. d. When new competitors enter a monopolistically competitive industry, the demand curve for each firm will not be affected.