In order for a nation to be able to consume more in the future, it needs to
A) produce less today in aggregate and save the difference between consumption and income.
B) produce more today in aggregate and save the difference between consumption and production.
C) consume more today in aggregate and borrow the difference between consumption and income.
D) consume less today in aggregate and save the difference between consumption and income.
D
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How will the exchange rate (foreign currency per dollar) respond to an increase in the relative rate of productivity growth in Canada in the long run?
A) Exchange rates will rise. B) Exchange rates will fall. C) Exchange rates will be unaffected by changes in the relative rate of productivity growth in Canada, both in the short run and in the long run. D) The exchange rate will be affected in the short run, but not in the long run.
Which of the following is assumed constant along the demand curve for gasoline?
a. the price of gasoline and the prices of related goods b. the price of gasoline, buyers' incomes, and tastes c. all variables affecting demand other than the price of gasoline d. all variables affecting demand other than the supply of gasoline e. buyers' incomes and tastes, but not the prices of related goods