The slope of the demand curve conveys all the useful information about elasticity
a. True
b. False
Indicate whether the statement is true or false
False
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Shelly purchases a leather purse for $400. One can infer that:
A. her reservation price was less than $400. B. she paid too much. C. her reservation price was at least $400. D. her reservation price was exactly $400.
The natural rate of unemployment is the rate that exists when the economy is producing at potential GDP
Indicate whether the statement is true or false
Suppose the production possibilities for two countries, producing either food or clothing, are shown in the above figure. The U.S. has a comparative advantage in producing
A) food. B) clothing. C) food and clothing. D) neither good.
The value of a euro goes from 1€ = US$1.25 to 1€ = US$1.50. In Germany, exports:
A. will increase, and imports will decrease. B. and imports will increase. C. will decrease, and imports will increase. D. and imports will decrease.