Which of the following best describes a graph showing the supply and demand for foreign exchange?
a. The quantity of foreign exchange is on the horizontal axis and the quantity of the domestic currency is on the vertical axis.
b. The quantity of the domestic currency is on the horizontal axis and the quantity of foreign exchange is on the vertical axis.
c. The quantity of foreign exchange is on the horizontal axis and the price of foreign exchange in terms of the domestic currency is on the vertical axis.
d. The quantity of foreign exchange is on the vertical axis and the price of foreign exchange in terms of the domestic currency is on the horizontal axis.
e. The quantity of the domestic currency is on the horizontal axis and the price of foreign exchange in terms of dollars is on the vertical axis.
C
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Which of the following statements about price elasticity of demand is false?
A) The value of the price elasticity of demand along a downward-sloping demand curve is always negative. B) If quantity demanded changes by a larger percentage than the percentage change in price, demand is elastic. C) The value of the price elasticity of demand is the reciprocal of the value of the demand curve's slope. D) A linear downward-sloping demand curve has a varying price elasticity coefficient.
An input-output table
A) details the flows of goods and services between various sectors of the economy. B) shows purchases by certain industries from other industries. C) shows sales by certain industries to other industries. D) All of the above.