The law of demand implies, holding everything else constant, that as the price of gelato
A) increases, the demand for gelato will increase.
B) decreases, the demand for gelato will increase.
C) decreases, the quantity of gelato demanded will increase.
D) increases, the quantity of gelato demanded will increase.
C
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An increase in the reserve requirement will lead to increased net exports
Indicate whether the statement is true or false
Real-wage unemployment is:
A. a mismatch between the skills workers can offer and the skills that are in demand. B. unemployment caused by workers who are changing their location, job, or career. C. the effect of wages remaining persistently above the market-clearing level. D. also called cyclical unemployment.
According to the new Keynesian school of thought, fiscal policy is a completely ineffective tool in combating supply-side shocks
a. True b. False Indicate whether the statement is true or false
Refer to the information provided in Table 33.5 below to answer the question(s) that follow. Cashews are measured in bushels and tea is measured in pounds (lbs.)
Table 33.5
Refer to Table 33.5. In Vietnam, the opportunity cost of
A. a lb. of tea is 2/15 of a bushel of cashews. B. a lb. of tea is 40 bushels of cashews. C. a bushel of cashews is 4/3 of a lb. of tea. D. a lb. of tea is 1/8 of a bushel of cashews.