Much of the growth in ________ is due to export-manufacturing, and ________ have based their growth on resource extraction.
A. South America; North American countries
B. Western Europe; the former Soviet-bloc countries
C. Sub-Saharan Africa; most Central American nations
D. Southeast Asia; many African nations
Answer: D
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A rise in U.S. real GDP would cause
a. leftward shifts of the demand curves for foreign currencies b. rightward shifts of the demand curves for foreign currencies c. rightward movements along the demand curves for foreign currencies d. no change in the demand curves for foreign currencies e. initial rightward movements along the demand curves for foreign currencies, followed by leftward shifts of those curves.
If a natural disaster were to cause a negative long-run supply shock to the economy, once the economy adjusts, the new equilibrium will be at a:
A. higher price level and lower level of output. B. lower price level and lower level of output. C. higher price level and higher level of output. D. lower price level and higher level of output.
Conventional budget accounting practices tend to overstate deficits in inflationary periods because they
A. ignore the inflation tax. B. confuse repayment of principal with real interest expenditures. C. double count some expenditures. D. understate real interest rates.
Describe the differences between the demand curve and the supply curve for the Mexican peso in the foreign exchange market, and explain the reasons for their particular slopes.
What will be an ideal response?