Which of the following statements accurately describes the situation shown?
a. The demand curve for euros shifts from D1 to D2 due to increased demand for euros.
b. The demand curve for dollars shifts from D1 to D2 due to increased demand for dollars.
c. Increased demand for euros shifts the demand curve for euros from D2 to D1.
d. Decreased demand for euros shifts the demand curve for euros from D1 to D2.
a. The demand curve for euros shifts from D1 to D2 due to increased demand for euros.
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Starting from long-run equilibrium, a large tax increase will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. recessionary; lower; potential B. expansionary; lower; potential C. expansionary; higher; potential D. recessionary; lower; lower
What is a tariff?
What will be an ideal response?
What type of policies did Adam Smith attack in his book, An Inquiry into the Nature and Causes of the Wealth of Nations?
What will be an ideal response?
In general, the relationship between democracy and economic growth as demonstrated by the HPAEs is that
A) democratic nations grow faster than undemocratic nations. B) democratic nations grow slower than undemocratic nations. C) there does not seem to be a relationship between democracy and economic growth. D) democracies are much more variable in their rates of growth than undemocratic nations. E) democracies are much less variable in their rates of growth than undemocratic nations.