Refer to Figure 2-4. Consider the following movements:
a. from point V to point W
b. from point W to point Y
c. from point Y to point Z
Which of the movements listed above represents advancements in technology with respect to only plastic production?
A) a, b, and c B) b and c only C) b only D) c only
D
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In the figure above, the shift in the demand curve for U.S. dollars from D0 to D1 could occur when
A) the expected future exchange rate decreases. B) the U.S. interest rate rises. C) people expect that the dollar will depreciate. D) foreign interest rates increase.
GDP and GNP may differ
A) because some income generated by domestic production may be received as income by foreign residents. B) because some intermediate good inputs are imported. C) because some workers are illegal aliens. D) whenever tariff rates become excessively high.