U.S. imports:
A. Increase the foreign demand for foreign currencies
B. Increase the domestic demand for foreign currencies
C. Decrease the foreign supply of foreign currencies
D. Increase the domestic supply of foreign currencies
B. Increase the domestic demand for foreign currencies
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According to the traditional economic model, which of the following would alter a state of consumer equilibrium if all other factors remain the same?
a. a decrease in the price of a good b. an increase in the quantity supplied of a good c. a decrease in the number of substitutes d. an increase in the number of complements
Two of the main focuses on development economics focuses on how countries can promote:
A. sound monetary and fiscal policy. B. health and fiscal policy. C. sound monetary policy and education. D. health and education.
P-TV and QRS-TV are trying to decide whether to air a sitcom or a reality show in a given time slot. Viewers like both sitcoms and reality shows, but sitcoms are more expensive to produce than reality shows since real actors need to be hired. QRS-TV makes its decision first, and then P-TV observes that choice before making its decision. Both stations know all of the information in the decision tree below. 
Suppose QRS-TV enters into an agreement with P-TV that gives QRS-TV the exclusive right to air a reality show during this time slot. QRS-TV would be willing to pay P-TV ________ in order to persuade P-TV to enter into this agreement.
A. no more than $5 million B. more than $10 million C. no more than $10 million D. nothing
The price elasticity of demand is the __________________ change in the quantity demanded of a good or service divided by the percentage change in the price.
a. quantity b. percentage c. relative d. absolute