What is the best hope for reducing environmental pollution in less-developed nations?
A) limiting international trade
B) boycott of polluting nation's products
C) producing the goods in advanced, economically developed nations
D) free international trade that raises incomes in less-developed nations
E) strong international standards for pollution control
D
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If the price elasticity of demand for gasoline is 0.8 and the price elasticity of demand for plane tickets is 2.2 then the demand for gasoline is ________ and the demand for plane tickets is ________
A) elastic; inelastic B) inelastic; elastic C) elastic; elastic D) inelastic; inelastic
Which of the following would cause the US dollar to increase in value compared to the Japanese yen?
(a) An increase in the money supply in the US (b) An increase in interest rates in the US (c) An increase in the US trade deficit with Japan (d) The US purchase of gold on the open market (e) The sale of $2 billion dollars worth of Japanese television sets to the US