Suppose you are a U.S. importer purchasing coffee from Guatemala at a dollar price of $10,000 . If the bank charges $0.12 per quetzal, you would have to buy 120,000 quetzals to settle the account with the Guatemalan exporter

Within the framework of the AD-AS model, an increase in savings by households will

a. increase the supply of loanable funds and reduce interest rates. b. be offset by a decrease in savings by businesses. c. cause long-run fluctuations in the rate of consumption. d. result in a decline in aggregate demand, output, and employment.

How much trade involves shipping goods between the fairly similar high-income economies of the United States, Canada, the European Union, Japan, Mexico, and China?

a. Roughly one-fourth b. Roughly one-third c. Roughly one-half d. Roughly one-fifth