An Increase in the U

question 94

Multiple Choice

An increase in the U.S. demand for imports will ________ the supply of dollars and lead the dollar to ________.

• A) increase; appreciate
• B) decrease; appreciate
• C) increase; depreciate
• D) decrease; depreciate

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Definitions:

Perfectly Inelastic

A situation where the demand or supply for a good does not change in response to changes in price.

Single Tax

A system where only one type of tax is levied, often proposed for simplifying the tax system.

Henry George

An American economist known for his advocacy of a single land tax and author of "Progress and Poverty," which argues land should be owned communally to address social inequalities.

Land

An essential factor of production representing all natural resources used to produce goods and services.