Choose the letter below that best represents the type of shift that would occur in the following situation in the United States: The value of the dollar plummeted in international currency markets, causing foreigners to buy more American goods. (See Figure 8.6.)
A. A.
B. B.
C. C.
D. D.
Answer: D
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Economies of scale can be caused by all of the following except
a. price discounts for large scale purchases b. labor specialization c. use of more productive equipment d. increases in the firm's average total cost e. more cost-efficient methods of marketing
Which of the following could cause the supply curve of loanable funds to shift to the left?
a. decrease in productivity b. increase in the rate of interest c. decrease in the rate of interest d. increase in productivity e. expectation that future prices will increase
Double counting in the resource cost-income approach to GDP statistics is avoided by
a. correct accounting of the values of exports and imports b. choosing only one method to calculate GDP--either the income or the expenditures method c. counting only the value added at each stage of a good's production process d. counting the value of final and intermediate goods and services e. subtracting the total value of intermediate goods and services from the total value of final goods and services
How many members can serve on the Board of Governors of the Federal Reserve System?
A. 9 B. 7 C. 14 D. 12