Americans needing foreign currencies get those currencies from a bank. The ultimate source of these currencies is
a. U.S. investments abroad.
b. U.S. sales to foreign countries.
c. U.S. purchases of foreign goods, services, and assets.
d. the International Monetary Fund.
B
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If a Pigovian tax is levied on consumers, the demand curve will shift:
A. straight up, decreasing quantity. B. straight down, decreasing quantity. C. straight down, increasing quantity. D. straight up, increasing quantity.
If the dollar appreciates and the U.S. AD curve shifts leftward by an amount greater than the U.S. SRAS curve shifts rightward, then Real GDP will _____________________ and the price level will _____________________
A) decrease; decrease B) decrease; increase C) increase; decrease D) increase; increase
Which one of the following is an example of a positive statement?
A) Farmers need some type of government aid.
B) State governments should provide economic assistance to farmers.
C) The federal government should provide economic assistance to farmers.
D) The amount of financial assistance given to farmers is higher this year than it was 10 years ago.
When the average physical product is rising
A) total cost is falling. B) average total cost is increasing. C) average variable cost is falling. D) marginal cost is always rising.