An increase in the value of the U.S. dollar will
A) reduce Canadian demand for winter homes in Arizona.
B) increase Canadian demand for winter homes in Arizona.
C) reduce the cost of homes in Arizona for Canadian buyers.
D) increase the cost of homes in Arizona for American buyers.
Ans: A) reduce Canadian demand for winter homes in Arizona.
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Assume Joe is only willing to pay $5 for a Ferrari sports car
A) Joe is not considered part of the demand for Ferraris. B) Joe won't be sold a Ferrari. C) Joe is not considered rational. D) Joe's willingness to pay is not indicative of how much he values the Ferrari.
One difference between moral hazard and adverse selection is
a. Adverse selection has to do with unobservable characteristics of individuals b. Adverse selection has to do with unobservable actions of individuals c. Adverse selection is when individuals most appropriate for positions are most likely to apply for them d. Adverse selection is when you choose the wrong answer on a test
If a market reflects a shortage and prices are allowed to move:
A) supply will increase. B) demand will decrease. C) price will decrease. D) price will increase.
Which of the following does NOT affect potential GDP?
A) the quantity of money B) the quantity of labor employed C) the quantity of capital and human capital D) the amount of entrepreneurial talent available E) the quantity of land and natural resources