The short-run supply of land at a specific location is:
a. best described by an upward-sloping curve.
b. best described by a downward-sloping curve.
c. perfectly inelastic

Suppose that the United States does 1/2 of its trade with Canada, 1/4 with the United Kingdom, and 1/4 with Mexico. If the dollar real exchange rate rises by 10°/o with Canada, rises by 20% for the United Kingdom, and falls by 10% for Mexico, what is the percentage change in the real effective exchange rate?

a. 11.5% b. 10% c. 7.5% d. -2.5%

For the federal government, what is the difference between discretionary spending and mandatory spending? What categories of spending account for the largest amount of the federal government's discretionary spending and mandatory spending?

What will be an ideal response?