If the value of the euro increases relative to the U.S. dollar, then French goods will be less expensive in the U.S
a. True
b. False
B
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If the elasticity of supply of labor is low and the elasticity of demand for labor is high, then workers pay most of the Social Security tax levied on labor
Indicate whether the statement is true or false
For a household in a (c,c') graph, the optimal consumption bundle is
A) to the left of the endowment point. B) to the right of the endowment point. C) on the endowment point. D) dependent on other factors.
After the Great Depression of the 1930s and particularly since World War II until the 1970s, the ideas of the __________ school became conventional wisdom
a. classical b. Keynesian c. monetarism d. supply-side e. rational expectations
Suppose technological improvements reduced the cost of producing automobiles by 50 percent, causing the price of automobiles to decline by a similar amount. Which of the following would necessarily result from this development?
a. Employment in the automobile industry would decrease. b. Real income would increase. c. Real income would decrease. d. Both a and c are correct.