The aggregate demand curve reflects:
a. a direct relationship between the price level in an economy and the real GDP demanded
b. a direct relationship between real GDP demanded and total unemployment.
c. an inverse relationship between the price level in an economy and the nominal GDP demanded.
d. an inverse relationship between the price level in an economy and the real GDP demanded.
e. an inverse relationship between the real GDP demanded and total unemployment.
d
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An individual or country that has a comparative advantage in the production of one good
A) may or may not have an absolute advantage in the good's production. B) must have an absolute advantage in the good's production. C) must not have an absolute advantage in the good's production. D) must not have an absolute advantage in the production of the other good.
The BP schedule will be steeper the
a. more responsive capital flows are to the interest rate. b. less responsive capital flows are to the interest rate. c. smaller the marginal propensity to import. d. less likely an expansionary fiscal policy will lead to a balance of payments deficit.
Prosperity in the United States is evenly distributed across the 50 states.
Answer the following statement true (T) or false (F)
Some evidence suggested that intra-industry trade between similar countries had a _______ impact on domestic workers but later evidence indicates that it all depends on how ______ the labor market is.
a. small; sticky b. large; sticky c. small; flexible d. large; flexible