Suppose foreigners find U.S. goods and services more desirable for some reason other than a change in the exchange rate. Which policies could be used to offset the resulting change in output?
a. an increase in the money supply and an increase in government purchases.
b. an increase in the money supply and a decrease in government purchases.
c. a decrease in the money supply and an increase in government purchases.
d. a decrease in the money supply and a decrease in government purchases.
d
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If oil is considered a non-renewable resource, than oil is a. an unlimited resource
b. a scarce resource. c. not a productive resource. d. has no opportunity cost.
Figure 1A.1Refer to Figure 1A.1. The slope of the line between the points where income equals 50 and income equals 200 is:
A. 0.2. B. 5. C. 10. D. 50.
Market demand is
A) the total quantities demanded of all consumers of a particular item at given prices. B) a movement along the demand curve in response to the market. C) total equilibrium demand for the market. D) the demand for and supply of a good or service.
The 1968 prediction of Paul Ehrlich proved to be wrong because population growth:
A. Slowed dramatically as standards of living decreased B. Slowed dramatically as standards of living increased C. Rose dramatically as standards of living decreased D. Rose dramatically as standards of living increased