Georgine buys more sweaters when her income increases. For Georgine, sweaters are
A) a substitute.
B) a complement.
C) an inferior good.
D) a normal good.
D
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A principal feature of a command economy is that
What impact does a decrease in the price level in the United States have on net exports and why?
A) A decrease in the price level reduces net exports because lower prices increase American spending on imports. B) A decrease in the price level increases net exports because lower prices increase the value of the dollar. C) A decrease in the price level reduces net exports because lower prices raise the value of the dollar. D) A decrease in the price level increases net exports by reducing the relative cost of American goods.
What is the "cost disease of personal services" phenomenon and why does it help explain why tuition rates keep going up so fast?
Steel workers laid off from their jobs as the result of a recession are considered:
A. structurally unemployed. B. cyclically unemployed. C. frictionally unemployed. D. seasonally unemployed.