An increased supply of U.S. dollars on the foreign exchange market, all else equal, will result in an appreciation of the U.S. dollar
Indicate whether the statement is true or false
FALSE
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According to economic theory, the political process tends to
A) benefit every participant equally. B) harm every participant equally. C) concentrate benefits in the hands of special interest groups and disperse the costs throughout the uninformed voters. D) support public projects that clearly pass a strict benefit-cost analysis.
The price elasticity of a vertical demand curve is always
a. infinitely large. b. zero. c. one. d. increasing as price increases.
If price were $14, there would be a (shortage or surplus) _____ of _____.
Personal income is
A) equal to GDP. B) that portion of national income that can be used for consumption and saving. C) the sum of all payments to suppliers of the factors of production. D) the amount of income that individuals actually receive. E) another term for disposable income.