If the U.S. dollar increases in value relative to other currencies, how does this affect the aggregate demand curve?
A) This will shift the aggregate demand curve to the right.
B) This will move the economy down along a stationary aggregate demand curve.
C) This will move the economy up along a stationary aggregate demand curve.
D) This will shift the aggregate demand curve to the left.
D
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Free trade is beneficial because it:
A) reduces competition. B) leads to less use of the world's resources. C) results in a wider array of consumer products. D) leads to the production of free goods.
Foreign residents can benefit from U.S. research and development activity because
A) they ignore U.S. patent laws and steal the technology. B) they can import the goods, obtaining inputs at lower cost than they would otherwise. C) countries usually share patented ideas. D) patents do a poor job of protecting the inventor.