If people's incomes decrease, their demand for other currencies shifts to the right.

If people's incomes decrease, their demand for other currencies shifts to the right.
a. True
b. False
Indicate whether the statement is true or false

QUESTION 2

In the aggregate expenditures model, if an economy operates above equilibrium GDP, there will be:
a. unplanned inventory accumulation.
b. unplanned inventory depletion.
c. an increase in GDP.
d. an increase in employment.

QUESTION 3

If every person is willing to accept money in payment, rather than goods and services, money serves as a:
a. medium of exchange.
b. unit of account.
c. store of value.
d. coincident exchange.

QUESTION 4

If the yen price of dollars falls, then the dollar price of yen rises.
a. True
b. False
Indicate whether the statement is true or false

QUESTION 5

In the aggregate expenditures model, if an economy operates below equilibrium GDP, there will be:
a. unplanned inventory depletion.
b. unplanned inventory accumulated.
c. a decrease in GDP.
d. a decrease in employment.

QUESTION 6

Which of the following is the most liquid store of purchasing power?
a. A dollar bill.
b. Common stock.
c. Gold.
d. Real estate.

QUESTION 7

Most industrialized nations today use a gold standard to establish exchange rates.
a. True
b. False
Indicate whether the statement is true or false

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If people's incomes decrease, their demand for other currencies shifts to the right.

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