What are the four components of aggregate demand?
What will be an ideal response?
consumption spending, investment spending, government purchases, net exports
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If a recession in the United Kingdom causes a reduction in British imports and an economic boom in the United States causes an increase in U.S. imports, these events will most likely cause the British pound to ________ and the U.S. dollar to ________.
A. depreciate; depreciate B. appreciate; depreciate C. depreciate; appreciate D. appreciate; appreciate
There is anecdotal evidence to suggest that global inequalities are often rooted in inequities
Indicate whether the statement is true or false
There is statistical evidence that managers' salaries are tied most closely to
a. profits at the profit-maximizing output. b. sales volume. c. cost per unit at minimum-cost output. d. the closeness of output to the point where MR = MC.
Refer to Table 3-20. What is Theresa’s opportunity cost of producing one pound of beef?
a. 5/6 bushel of wheat b. 6/5 bushel of wheat c. 3/5 bushel of wheat d. 5/3 bushels of wheat