Question 1
Refer to the information provided in Figure 34.4 below to answer the question(s) that follow.
Refer to Figure 34.4. The demand and supply of pounds are
S
1 and
D
1. Which of the following can change the equilibrium exchange rate ($/pound) to $1.50 and the equilibrium quantity to 400 pounds?
◦ British purchases of U.S.-made cars increase
◦ United States purchases of British-made cars increase
◦ the price level in Great Britain decreases
◦ income in the United States decreases
Question 2
The J-curve effect refers to the observation that
◦ the trade balance usually gets worse before it improves after a currency depreciation.
◦ GDP usually decreases before it increases after a currency appreciation.
◦ the trade balance usually gets worse before it improves after a currency appreciation.
◦ GDP usually decreases before it increases after a currency depreciation.
A theoretical photosynthetic response curve.
Clouds: Cloud Coverage and Observation
Effect of Landfall
The enhanced greenhouse effect
The Kuznets Curve in England and Wales, 1823–1915
Normal frequency distribution, characterized by a bell-shaped curve