Within a system of perfectly flexible exchange rates, an decrease in the United States demand for imports would result in a
a. rise in the exchange rate.
b. fall in the exchange rate.
c. balance of payments deficit.
d. balance of payments surplus.
B
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If an economy's population grows at 3 percent and income grows at 4 percent, then
a. per capita income is declining b. the economy's standard of living is decreasing c. per capita income is negative d. per capita income is growing e. human capital per capita is increasing
The supply curve shows the relationship between
A. the demand and supply schedules. B. price and quantity supplied. C. income and quantity supplied. D. quantity demanded and quantity supplied.
An economist estimates the value of a nature preserve by calculating the price premium people pay for houses located adjacent to the preserve. This is an example of what type of economic valuation?
a. Hedonic pricing b. Production function valuation c. Contingent valuation d. Travel cost method e. Engineering cost valuation
What are the main characteristics that make it more likely for a cartel to enforce agreements among participating members?
What will be an ideal response?