When other countries threatened to limit Japanese imports, Japan took steps to:
A. increase the value of the yen and increase its trade surplus.
B. decrease the value of the yen and decrease its trade surplus.
C. increase the value of the yen and decrease its trade surplus.
D. decrease the value of the yen and increase its trade surplus.
Answer: C
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When there is a recessionary gap, inflation will ________, in response to which the Federal Reserve will ________ real interest rates, and output will ________.
A. decline; lower; decline B. increase; raise; decline C. decline; lower; expand D. decline; raise; decline
The CEO and stockholders talk almost everyday
Indicate whether the statement is true or false
Independent grocery stores are best-advised to
A. provide a level of service, community involvement, and types of goods Walmart does not. B. hire less-qualified people to keep costs down. C. sell exactly the same goods Walmart does. D. "out Walmart" Walmart by lowering prices.
Which of the following statements best describes the demand for agricultural commodities?
A. It takes a small decline in price to induce a large increase in the amount of agricultural products demanded. B. The marginal utility of additional units of agricultural output diminishes very rapidly. C. Small increases in income cause demand to increase by a proportionately larger amount. D. When price declines, the resulting substitution effect is very large.