Your textbook discusses "dry" counties in the U.S. What is a dry county?
A) A county where rainfall is below the national average
B) A county that experiences no rainfall
C) A county in which it is illegal to produce, purchase and sell alcohol
D) A county in which only dry gin is consumed
C
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Which of the following statements correctly defines the law of demand?
a. The lower the price of a commodity, the lower the quantity demanded of that commodity. b. As the price of a commodity increases, the quantity demanded of that commodity also increases. c. The lower the price of a commodity, the greater the quantity demanded of that commodity. d. The lower the price of a commodity, the greater the quantity supplied of that commodity. e. The quantity demanded of a particular good decreases with an increase in the price of a substitute good.
Expansionary fiscal policy may have an even smaller effect on aggregate demand in the open economy than a closed economy
a. True b. False Indicate whether the statement is true or false
In the United States, which workers displaced by trade are able to adjust the easiest?
a. those in the service industries b. those in the manufacturing industries c. Evidence indicates that there is no difference across industries. d. There is no available evidence on this topic.
If the price level was lower than the equilibrium price level, then aggregate quantity supplied is __________ aggregate quantity demand.
Fill in the blank(s) with the appropriate word(s).