Other things equal, the currency price of U.S. dollars in terms of foreign currency is negatively related to foreign demand for U.S. goods and services
a. True
b. False
Indicate whether the statement is true or false
False
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Moving along the production possibilities frontier itself illustrates
A) the existence of tradeoffs. B) the existence of unemployment of some factors of production. C) the benefits of free lunches. D) how free lunches can be exploited through trade. E) how tradeoffs need not occur if the economy is efficient.
Refer to Figure 18-2. If the government imposes an excise tax of $1.00 on every unit sold, the government's revenue from the tax is represented by the area
A) (PaPc × Qa) if the supply curve is S0 and (PbPc × Qb) if the supply curve is S1. B) (PbPe × Qb) under either supply curve. C) (PaPd × Qa) if the supply curve is S0 and (PbPe × Qb) if the supply curve is S1. D) (PaPe × Qa) under either supply curve.
With respect to Friedman's natural rate theory, expansionary monetary policies can
a. move output above the natural rate but leave unemployment at the natural rate in the short-run. b. only affect inflation and not unemployment in the long-run. c. leave output at its natural rate with a simultaneous decrease in the natural rate of employment. d. move output and employment below the natural rate.
Which of the following will cause the demand curve for gasoline to shift leftward?
a. a decrease in the price of gasoline b. an increase in the price of gasoline c. a leftward shift of the supply of gasoline d. a rightward shift of the supply of cars e. a decrease in the price of bicycles