If there is a shift of international trade away from a country's products, we can expect that the FE and IS curves will shift to the ________, the overall payments balance will move toward ________, and the domestic currency will
A. right; surplus; appreciate.
B. right; deficit; appreciate.
C. left; deficit; depreciate.
D. left; surplus; depreciate.
Answer: C
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The real interest rate
A) can never be negative. B) is approximately equal to the nominal interest rate plus the inflation rate. C) is approximately equal to the nominal interest rate minus the inflation rate. D) is positively related to the inflation rate.
The state is considering adding a satellite campus to its major university. How can marginal analysis assist, even though the university does not attempt to maximize profits?
What will be an ideal response?
Efficiency is an important social goal because:
A. it takes into consideration the distribution of income. B. it assures a normative outcome. C. movements toward economic efficiency make the total economic pie larger. D. it assures a fair outcome.
Prices ration goods to
A. the richest people. B. the people with the lowest opportunity cost of time. C. the people willing and able to pay the highest price. D. the people who most deserve it.