If there is an outward shift in U.S. demand for French goods, the result will be
A) a decrease in the dollar price of a euro.
B) an inward shift in French demand for U.S. goods.
C) a decrease in euros traded.
D) an increase in the dollar price of a euro.
Answer: D
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One important difference between the international economy of today and the economy of 100 years ago is
A) that labor is so much more mobile. B) for the first time, technological innovations have reduced the barrier of distance. C) for the first time, capital is mobile. D) that price differences in different markets have narrowed. E) the presence of international bodies such as the IMF and World Bank.
Which of the following equations correctly describes the quantity equation in terms ofpercentage rate of change? ? means "change in."
A) %?M÷%?V=%?P x %?Y B) %?M+%?V=%?P+%?Y C) %?M÷%?V=%?Y÷%?P D) %?M x %?V=%?P x %?Y
The following is budget information for a hypothetical economy. All data are in billions of dollars.YearGovernment SpendingTax RevenuesGDP1$1,100$1,000$10,00021,2501,40010,20031,4501,45010,50041,6001,50010,90051,8001,55011,200Refer to the above data. Assume that year 1 is the first year for this economy and year 5 is the current year. What is the public debt in this economy?
A. $250 billion B. $300 billion C. $100 billion D. $150 billion
Two goods are complements if an increase in the price of one good leads to an increase in demand for the other.
Answer the following statement true (T) or false (F)