Which of the following is accurate concerning the nature of international law?
a. It regulates all matters and relations between states.
b. It addresses a narrow range of issues that arise between states.
c. It has traditionally been regarded as harmful to elite superpowers.
d. It is a set of rules and obligations that states recognize as binding on each other.
d. It is a set of rules and obligations that states recognize as binding on each other.
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Suppose the marginal value of bread in terms of wine is 1/2 bottle of wine per loaf of bread, while the relative price of bread in terms of wine is 1/4 bottle of wine per loaf of bread. Explain how the consumer can adjust his purchases to raise his level of satisfaction.
What will be an ideal response?
Refer to Figure 13-4. Given the economy is at point A in year 1, what will happen to the price level in year 2?
A) It will fall. B) It will rise. C) It will remain constant. D) not enough information to answer the question
Which of the following will cause a movement upward along a supply curve?
A. Increases in raw-material costs. B. Increases in labor costs. C. Increases in the cost of machinery. D. Increases in the market price of a good, other things being equal.
The aggregate demand-aggregate supply model shows that closing an expansionary gap involves deflation and closing a recessionary gap involves inflation.
a. true b. false