According to classical theory, total employment and real Gross Domestic Product (GDP) are
A) inversely related. B) negatively related. C) positively related. D) unrelated.
C
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If orange juice prices fall by 25 percent next year, there will be a
A. rightward shift in the demand for pineapple juice. B. rightward shift in the supply of pineapple juice. C. leftward shift in the supply of pineapple juice. D. leftward shift in the demand for pineapple juice.
Refer to Figure 2-18. Which two arrows in the diagram depict the following transaction: Stanley purchases the novel, "Night of Sorrows" for his summer reading pleasure
A) K and G B) J and G C) J and M D) K and M
The world price of a ton of steel is $650 . Before Russia allowed trade in steel, the price of a ton of steel there was $1,000 . Once Russia allowed trade in steel with other countries, Russia began
a. exporting steel and the price per ton in Russia decreased to $650. b. exporting steel and the price per ton in Russia remained at $1,000. c. importing steel and the price per ton in Russia decreased to $650. d. importing steel and the price per ton in Russia remained at $1,000.
The question of scarce resources and unlimited wants is addressed in
a. psychology b. history c. political science d. economics e. anthropology