Refer to the graph below, which shows the supply and demand for British pounds. D1 and S1 represent the initial demand and supply curves. If there is a large increase in the number of American tourists visiting Britain because of a major event like the Olympics or the World Cup, then what should the British government do if it wants to fix the exchange rate at its initial level?

The CBS news correspondent Bill Whitaker discussed the high level of unemployment among teens, especially during the summer months. In 2011, unemployment among the population as a whole was 9.1 percent, but among teens it was close to 24 percent

Many of these teens were hoping to get entry level jobs as small businesses. (Source: CBS news, June 4, 2011) A minimum wage set above the equilibrium wage rate is called A) a price floor. B) a price ceiling. C) quota. D) subsidy.

An expansion in a country's capital stock is associated with a(n) _____

a. increase in potential GDP b. decline in future consumption c. increase in human capital d. decline in the rate of investment e. increase in national debt