As the international value of the dollar rises, AS shifts outward and AD shifts inward
a. True
b. False
Indicate whether the statement is true or false
True
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A labor union is a group of
a. employees who join together to improve their working conditions b. firms that join together to hire workers c. firms that work together to negotiate better prices in the market d. farmers who work together to receive better prices for their agricultural products e. workers and firm owners who join together to improve working conditions
Your scarcity problem would disappear if you were rich
a. True b. False Indicate whether the statement is true or false
When economists say the quantity demanded of a product has increased, they mean the:
A. demand curve has shifted to the left. B. demand curve has shifted to the right. C. price of the product has fallen, and consequently, consumers are buying more of it. D. price of the product has risen, and consequently, consumers are buying less of it.
Apple is an American company, but its iPhones are assembled in China. The sale of each iPhone then is counted in US GDP as:
A. consumption. B. an export. C. investment. D. an import.