Choose the letter of the diagram in Figure 36.2 that represents the shift in the foreign exchange market for dollars given the following situation, ceteris paribus: The U.S. economy suddenly experiences a recession.
A. a.
B. b.
C. c.
D. d.
Answer: A
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Which philosophy, advocated by Alexander Hamilton's "Report on Manufactures" as a means to create strong U.S. development, also successfully worked for Germany and Japan?
a. protectionism b. socialism c. isolationism d. capitalism
In an open economy, the quantity demanded of bikes in the domestic market is ________.
A. 80,000 B. 20,000 C. 100,000 D. 50,000
Refer to the above diagram, in which Qf is the full-employment output. A contractionary fiscal policy would be most appropriate if the economy's present aggregate demand curve were at:
A. AD0. B. AD1. C. AD2. D. AD3.
When the current U.S. income tax system was instituted in 1913, the rate on the highest tax bracket was _____
a. 28 percent b. 1 percent c. 15 percent d. 7 percent