An increase in the price of sodium carbonate, a chemical compound used in detergents, will:
a. increase the quantity of detergents demanded.
b. decrease the quantity of detergents demanded.
c. decrease the demand for detergents.
d. increase the demand for detergents.
B
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In the 1960s, many economists and policy makers considered the trade-off between inflation and unemployment revealed in the Phillips curve to be permanent
This belief was challenged by ________, who argued that there is no trade-off between inflation and unemployment and the long run. A) Paul Samuelson and James Tobin B) Robert Lucas and Thomas Sargent C) Finn Kydland and Edward Prescott D) Milton Friedman and Edmund Phelps
There is a specific relationship between the price of a bond and its yield. Which of the following describes that relationship?
a. If the price falls, the yield stays the same, but if the price rises, the yield rises. b. As the price falls, the yield falls. c. If the price rises, the yield stays the same, but if the price falls, the yield falls. d. As the price rises, the yield rises. e. As the price rises, the yield falls.
What is production? What economic factors are involved in production?
What will be an ideal response?
(Consider This) If wages were more downwardly flexible, then we would expect:
A. fewer layoffs during recessions. B. more layoffs during recessions. C. more severe recessions. D. no business cycle fluctuations.