Output per capita is the most commonly used measure of the prosperity of a nation
a. True
b. False
A
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If the demand for digital cameras increases when consumers' incomes rise, then digital cameras are
A) a substitute for camcorders. B) a complement to camcorders. C) an inferior good. D) a normal good. E) made using advanced technology.
In the figure above, international trade ________ total surplus in the United States by ________
A) increases; $1.92 billion B) decreases; $2.56 billion C) increases; $4.8 billion D) decreases; $3.6 billion
An increase in the US demand for pound causes
a. An appreciation of the pound b. Depreciation in the dollar c. None of the above d. Both a and b
In the late 1970s, U.S. nominal interest rates were high and real interest rates were low, but in the late 1990s, U.S. nominal interest rates were low and real interest rates were high
a. True b. False Indicate whether the statement is true or false