If we know that Canada exports maple syrup, we can conclude that maple syrup consumers in Canada are worse off than they would be in the absence of trade
a. True
b. False
Indicate whether the statement is true or false
True
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In the above figure, equilibrium expenditure is equal to
A) $5 trillion. B) $10 trillion. C) $20 trillion. D) $15 trillion. E) None of the above answers is correct
An inferior good has a ________ income elasticity of demand and quantity demanded ________ as income rises
A) negative; increases B) negative; decreases C) positive; increases D) positive; decreases
If unemployment is below the NAIRU, inflation generally:
A. accelerates. B. decelerates. C. becomes negative. D. gets caught in a downward spiral.
A decrease in the US cattle herd because of drought in Texas will
A. shift the supply curve of US corn to the right. B. shift the supply curve of US corn to the left. C. shift the demand curve for US corn to the right. D. shift the demand curve for US corn to the left.