Which of the following would be classified as a public good?
A) state lotteries
B) telephone service
C) cable TV programming
D) national defense
D
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Holding other things constant, an appreciation of the US Dollar to the Chinese Yuan might cause the demand for Yuan to _____________ and the supply for Yuan to __________
a. Increase; decrease b. Increase, increase c. Decrease; Increase d. Decrease; Decrease
Which of the following is a possible difference between health care and other products? a. The demand curve for health care may be steeper than the demand curve for other products
b. The demand curve for health care is a horizontal line, whereas the demand curve for other products is downward sloping. c. The supply curve for health care is fixed, whereas the supply curve of other products change with a change in its determinants. d. The demand for health care is positively related to price, whereas the demand for other products is inversely related to price. e. The supply of health care is inversely related to price whereas the supply of other products are positively related to price.
Which of the following would not shift the demand for pounds curve to the right?
a. An increase in real U.S. GDP. b. A decrease in U.S. interest rates. c. A decrease in real U.S. GDP. d. An increased taste for British goods by Americans. e. None of the above.
A currency union is:
A) a trade agreement between countries. B) a customs union between countries. C) when countries abandon their domestic currency and adopt a common currency. D) a free trade area.