Which of the following will lead to a decrease in aggregate demand in the United States?
a. a higher price level
b. a decrease in the real interest rate
c. rapid growth in real income in Japan and Western Europe
d. an increase in the exchange rate value of the dollar
D
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Which of the following is accurate concerning WTO membership?
a. No state has ever left the group. b. The organization had 100 members as of 2015. c. The largest members in terms of GDP are Iran and Algeria. d. States are no longer eagerly seeking membership as they had in the past.
Which of the following statements regarding perfect price discrimination is FALSE?
A) Only part of consumer surplus is captured by the firm as producer surplus. B) For the firm, the market demand curve becomes the firm's marginal revenue curve. C) The monopoly produces the output at which the marginal revenue equals the marginal cost. D) No deadweight loss is created.