Suppose the price level in the United States falls while price levels elsewhere in the world remain unchanged. Our demand for imports would rise and our demand for domestic goods would fall
Indicate whether the statement is true or false
F
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Voters' Ordered PreferencesAbbyBobCarloPublic parksPublic zooPublic transportationPublic zooPublic transportationPublic parksPublic transportationPublic parksPublic zooIf a pair-wise majority vote was held and the voters' preferences are shown in the table, assuming public parks and the zoo was the first pair to be voted on, which option would win overall?
A. Public transportation B. Public parks C. Both Public parks and zoo. D. Public zoo
The effect of government spending or tax cuts on national income is measured by the:
A. aggregator. B. output gap. C. multiplier. D. tax rate.
Use the above figure. For this monopolistic competitor, which of the following is INCORRECT?
A. The profit-maximizing rate of output is at E, where MR intersects MC. B. The profit-maximizing rate of output is qe, and the profit-maximizing price is P. C. A downward sloping marginal revenue curve that is below the demand curve. D. The demand curve shows a direct relationship between price and quantity demanded.
The observation that people tend to value something more highly when they own it than when they don't is called the
A) wealth effect. B) endowment effect. C) path-dependent effect. D) endorsement effect.