The direct relationship between changes in price and changes in quantity supplied is
A) a change in supply.
B) shown by a shift in the supply curve.
C) the law of supply.
D) the law of relative production.
C
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A capital ________ can promote financial instability in an emerging-market country because it is what forces a country to ________ its currency
A) inflow; devalue B) inflow; revalue C) outflow; devalue D) outflow; revalue
Assuming MPC is 0.80, what effect, if any, would an increase of $100 billion of U.S. exports have on the U.S. level of national income?
a. No effect since the goods would be consumed abroad b. National income increases by $100 billion c. National income decreases by $100 billion d. National income decreases by $500 billion e. National income increases by $500 billion
Which of the following is likely to have the most price elastic demand?
a. scissors b. fruit c. music downloads d. toothpaste
Answering the For Whom to Produce question means that:
A. society is determining the size of the economic pie, B. scarcity no longer restricts production. C. society must have a method to decide who will be rich and who will be poor. D. an economy is selecting among its resources for production.