An increase in wages will shift the supply curve up and to the left.
Answer the following statement true (T) or false (F)
True
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If the dollar depreciates, it can be said that
A. foreign countries no longer respect the United States. B. it falls in value within the United States. C. it takes fewer dollars to buy foreign currencies. D. other currencies appreciate.
Some economists argue that the federal government should normally run a deficit at potential GDP, with the borrowed funds applied to
A) health care costs. B) social security benefits. C) investment goods. D) consumption goods.
Orange juice and grapefruit juice are likely to be
A. inferior goods. B. substitutes for one another. C. complementary to one another. D. all of the above.
Refer to Figure 6.4. If the current market transactions occur only over the output level where a buyer's willingness to pay is greater than a seller's willingness to accept, the government could have set:
A. a maximum price at A B. a minimum price at C. C. a maximum price at C. D. There is not sufficient information.