A __________ in the balance of payments means that we are paying out more money abroad than we are taking in, resulting in a(n) __________ of foreign exchange value relative to the dollar
A) deficit; depreciation
B) surplus; appreciation
C) surplus; depreciation
D) deficit; appreciation
D
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The above table shows production points on Sweet-Tooth Land's production possibilities frontier. What is the opportunity cost of one chocolate bar if Sweet-tooth Land moves from point C to point D?
A) 30 cans of cola per chocolate bar B) 10 cans of cola per chocolate bar C) 3 cans of cola per chocolate bar D) 1/3 can of cola per chocolate bar
Fiscal policy is most effective when exchange rates are fixed
Indicate whether the statement is true or false
A surplus can exist in the market only if there is:
a. a non binding price floor. b. a binding price floor. c. a binding price ceiling. d. a non binding price ceiling.
If the ________ tax rate equals the ________ tax rate, the tax would be proportional.
A. corporate income; personal income B. average; variable C. marginal; average D. sales; personal income