The U.S. population is over _________ million.
Fill in the blank(s) with the appropriate word(s).
300
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The current international financial system is a managed float exchange rate system because
A) exchange rates fluctuate in response to, but are not determined solely by, market forces. B) some countries keep their currencies pegged to the dollar, which is not allowed to fluctuate. C) all countries allow their exchange rates to fluctuate in response to market forces. D) all countries peg their currencies to the dollar which is allowed to fluctuate in response to market forces.
If the import supply curve is upward-sloping:
A. a tariff or quota can increase domestic aggregate surplus. B. a quota can increase domestic aggregate surplus, but a tariff cannot. C. a tariff can increase domestic aggregate surplus, but a quota cannot. D. neither a tariff nor a quota can increase domestic aggregate surplus.
Consider the production possibilities frontier displayed in the figure shown. Which of the following combinations could not be produced?
A. (20 watermelons, 400 bushels of apples)
B. (15 watermelons, 100 bushels of apples)
C. (10 watermelons, 150 bushels of apples)
D. (0 watermelons, 400 bushels of apples)
A shortage means that the quantity demanded is greater than the quantity supplied at the prevailing price
a. True b. False Indicate whether the statement is true or false