If there is currently a shortage of dollars, which of the following would you expect to see in the foreign exchange market?
A) The dollar will appreciate.
B) The dollar will depreciate.
C) There will be an increase in the demand for dollars.
D) There will be an increase in the supply of dollars.
Answer: A
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The infant industry argument is that
A) comparative advantage is irrelevant to economic growth. B) developing countries have a comparative advantage in agricultural goods. C) developing countries have a comparative advantage in manufacturing. D) developing countries have a potential comparative advantage in manufacturing. E) developing countries have no chance to compete with industrialized countries.
Which of the following would be expected if the tariff on foreign-produced automobiles were increased?
a. The domestic price of automobiles would fall. b. The supply of foreign automobiles to the domestic market would decline, causing auto prices to rise. c. The number of unemployed workers in the domestic automobile industry would rise. d. The demand for foreign-produced automobiles would increase, causing the price of automobiles to increase in other nations.
According to the Incentive Principle:
A. people tend to do more of something when its benefits are greater. B. people will always take the highest-paying job they are offered. C. benefits are more important than costs in making a decision. D. it is irrational to perform volunteer services.
The most appropriate level of government to provide public goods is:
A. dependent on the specific public good in question. B. local. C. state. D. federal.