Suppose the relative price of Ford F150 pickup trucks has risen over the past decade. Yet, even at the higher price, more F150 pickups have been sold. What would an economist conclude?
A) The supply of F150 pickups is downward-sloping.
B) The demand for F 150 pickups is upward-sloping.
C) Buyers of F150 pickups are acting irrationally.
D) All of the above are true.
E) None of the above is true.
E
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The paper currencies of the U.S. are also called
A. U.S. government notes. B. Federal Reserve notes. C. Treasury bills. D. Treasury bonds.
A union can induce a rise in equilibrium wages in a unionized industry by
A) not striking. B) successfully increasing the demand for union labor. C) successfully decreasing the demand for union labor. D) reducing the marginal revenue product of firms employing union labor.
Defense, construction, and management consulting are usually set up as
A. network designs. B. Uforms of business organizations. C. Mforms of business organizations. D. matrix designs.
The ________ balance includes purchases and sales of financial assets to and from citizens and companies of other countries.
A. capital account B. investment account C. current account D. none of these