Assume that when the price of good Z is increased from $5 to $6, the total revenue earned increases from $600 to $690. Based on this information, we can conclude that over this range, demand for Z is:

Given the accelerationist Phillips curve ?? = - 0.3 (U - 6 ) + ?, suppose that inflation in the preceding period was 3 percent, unemployment is 7 percent, and there is no price shock. The current inflation rate is ________

A) 2.7 percent B) 3 percent C) 0.9 percent D) 3.3 percent E) none of the above

Which of the following people is most likely to demand U.S. dollars in the foreign exchange market?

a. A United States resident who is traveling to the Greek Islands b. An American investor who intends to buy Japanese government bonds c. A resident of Australia who is traveling to Belgium d. A British importer of U.S. beef e. A U.S. company that is importing avocados from Mexico