An increase in the value of the dollar will __________ exports and __________ imports.
Fill in the blank(s) with the appropriate word(s).
decrease; increase
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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.
If the demand for salad dressing increases when the price of lettuce decreases, the cross-price elasticity of demand between salad dressing and lettuce will be ________ because these two goods are ________.
A. equal to 1; inelastic B. negative; substitutes C. negative; complements D. zero; inferior
Economists consider environmental pollution to be a(n)
A. externality. B. pure public good. C. allocatively efficient outcome. D. public interest outcome.
The horizontal axis in the AD-AS model shows:
A. the economy's nominal GDP growth rate. B. the economy's short-term interest rate. C. the economy's real GDP growth rate. D. the economy's inflation rate.