Shifts of the ________ curves result from autonomous monetary policy
A) MP, IS, & AD
B) MP & IS, but not AD
C) IS & AD, but not MP
D) MP, but not IS nor AD
E) none of the above
E
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If the wage is kept above the equilibrium level for any reason, the result is unemployment
a. True b. False Indicate whether the statement is true or false
A balance-of-payments surplus for the United States can be corrected by
A. Increasing quotas on foreign goods. B. Reducing tariffs on foreign goods. C. Subsidizing U.S. exports. D. Increasing U.S. taxes.
Refer to the information provided in Figure 34.4 below to answer the question(s) that follow.
Figure 34.4Refer to Figure 34.4. The demand and supply of pounds are D2 and S2. If the supply shifts to S1 and demand remains unchanged at D2
A. the dollar depreciates and the equilibrium quantity of pounds decreases. B. the dollar appreciates and the equilibrium quantity of pounds increases. C. the dollar depreciates and the equilibrium quantity of pounds increases. D. the dollar appreciates and the equilibrium quantity of pounds decreases.
Answer the following statements true (T) or false (F)
1. The price elasticity of demand for most agricultural products is relatively low. 2. The increasing relative importance of agricultural exports has increased the instability of the demand for U.S. farm products. 3. An increase in the supply of farm products relative to the demand for them tends to cause farm incomes to decline. 4. Due to high fixed costs relative to variable costs in farming, farm production is quite sensitive to price-changes in the short run. 5. Technological advances have occurred throughout the history of agriculture, resulting in higher productivity but lower incomes to farmers.