The food processing industry in Richland accounts for 20% of its GDP
Which of the following will happen if firms in this industry become pessimistic about the future demand for their products? Assume that consumption and government expenditure remains unchanged.
A) Richland's unemployment rate will fall. B) Richland's interest rate will increase.
C) Richland's inflation rate will increase. D) Richland's GDP will fall.
D
You might also like to view...
Elasticity is a measure of the responsiveness of change in quantity demanded to a change in price.
Answer the following statement true (T) or false (F)
Ricardo's assumption for economic rents for land was based on
A) the supply of land being a fixed quantity. B) a shortage of land. C) a surplus of land. D) total government control of land.
If a large number of laborers shift from fixed-wage contracts to wages that depend on the cost of living adjustments, the long-run aggregate supply curve for the economy will become relatively steeper
a. True b. False Indicate whether the statement is true or false
A tax imposed on the sellers of a good will
a. raise the price paid by buyers and lower the equilibrium quantity. b. raise the price paid by buyers and raise the equilibrium quantity. c. raise the net price received by sellers and raise the equilibrium quantity. d. raise the net price received by sellers and lower the equilibrium quantity.