With a surplus in our balance of payments, there is an excess __________ dollars in the foreign exchange market, causing the dollar to __________
A) demand for; appreciate
B) demand for; depreciate
C) supply of; appreciate
D) supply of; depreciate
A
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An isoquant shows
A) the combinations of two inputs that yield the same total product. B) the combinations of two inputs that cost the same total quantity of money. C) the combinations of two goods that yield the same total satisfaction. D) the combination of two goods that cost the same amount of money.
Monetarists believe that changes in the money stock
a. have an immediate effect on the level of income. b. will always have a persistent impact on output for more than two years. c. do not affect the level of income to any great extent. d. have a persistent impact on output for as long as it takes the expected price level to adjust to the actual price level. e. both b and d.
To an economist, the terms "money" and "wealth" are synonyms
Indicate whether the statement is true or false
Recall the Application about productivity in the nation of Latvia in the 1990s to answer the following question(s). According to this Application, in the 1990s EU countries had ________ in the production of all products compared to Latvia.
A. an absolute advantage and a comparative advantage B. an absolute advantage but not a comparative advantage C. a comparative advantage but not an absolute advantage D. neither an absolute advantage nor a comparative advantage