If the value of the U.S. dollar appreciates in foreign exchange markets then this will likely cause
a. the relative price of American exports to rise for foreigners interested in buying U.S. exports.
b. the relative price of American imports to fall for Americans interested in buying U.S. imports.
c. U.S. exports to fall and U.S. imports to rise creating a balance of trade deficit.
d. All of the above.
d. All of the above.
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An analyst on a local news channel argues that the recent corporate scandals "demonstrated very clearly that self interest always contradicts social interest." Do you agree or disagree? Substantiate your answer
What will be an ideal response?
The above figure shows the Lorenz curve for wealth for the nation of Rusha. The poorest forty percent of the population own what percent of wealth?
A) 0 percent B) 10 percent C) 20 percent D) 40 percent
Water is cheap and diamonds are expensive because water has a ________, and diamonds have a ________
A) low total utility; high total utility B) low marginal utility; high marginal utility C) high marginal utility; low marginal utility D) low marginal utility and a low total utility; high marginal utility and a high total utility
Which of the following statements regarding the gross domestic product is true? a. It is useful in comparing the overall performance of different economies at the same time
b. It measures aggregate income in an economy over a period of ten years. c. It measures the value of all goods and services produced in the world during a given period. d. It is a measure of an economy's price level during a particular year. e. It records the cumulative value of all goods and services produced by domestically owned factors of production.