If the dollar appreciates, American consumers will buy more foreign goods and services
a. True
b. False
Indicate whether the statement is true or false
True
Economics
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The cross elasticity of demand for substitute products must:
a. be greater than one. b. be less than one. c. be zero. d. exceed zero. e. be negative.
Economics
The Patersons bought a home that was newly constructed in 2007 for $275,000 . They sold the home in 2015 for $255,000 . Which of the following statements is correct regarding the sale of the house?
a. The 2015 sale increased 2015 GDP by $255,000 and had no effect on 2007 GDP. b. The 2015 sale reduced 2015 GDP by $20,000 and had no effect on 2007 GDP. c. The 2015 sale increased 2015 GDP by $255,000; and caused 2007 GDP to be revised downward by $20,000. d. The 2015 sale affected neither 2007 GDP nor 2015 GDP.
Economics