As an industry's output increases, the industry's demand for the inputs that it uses will also increase
a. True
b. False
Indicate whether the statement is true or false
True
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Refer to Figure 15-7. Suppose the economy is in a recession and the Fed pursues an expansionary monetary policy. Using the static AD-AS model in the figure above, this would be depicted as a movement from
A) A to E. B) A to B. C) B to C. D) C to B. E) C to D.
An HVAC company is selling heating and cooling equipment. Between its sales staff and the VP of Marketing, the sales staff would want to
a. Price aggressively to ensure sales are made b. Price less aggressively to ensure that profitable sales are made c. Price at cost to minimize sales d. None of the above
To own a taxicab in New York City, you must own a medallion. New York City regulates the number of official cabs by limiting the number of medallions. Explain why the New York cab industry is not competitive by reviewing the four conditions necessary for competition. NYC violates which one?
Which statement is true?
A. Most of the United States' production is geared toward consumer goods. B. Nearly 25 percent of the United States' national output is devoted to armaments. C. Japan devotes a higher proportion of its national output to armaments than the United States does. D. What gets produced in the United States is decided by a central planning board consisting of top government, corporate, and union officials.