The expenditure schedule will shift upward when

Money must be ________ which includes the fact that is should ________

A) generally accepted as a means of payment; be recognizable and divisible into small parts B) backed by gold; not decrease in value over time C) whatever is used in a barter system; transferable across countries' borders D) accepted as a means of payment across countries' borders; not be fiat money E) in physical form; not be transferable using electronic means

The world price of a commodity will settle at the level where a. supply and demand are equal within each country

b. the excess demand of the importing country is just equal to the excess supply of the exporting country. c. the excess demand in the exporting country is equal to the excess demand in the importing country. d. there is no excess demand in the exporting country.