Recall the Application about the free-agent market for professional baseball pitchers to answer the following question(s).Recall the Application. Baseball teams know more about the health of free-agent pitchers than the pitchers themselves.
Answer the following statement true (T) or false (F)
False
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If the price of the good measured on the horizontal axis is subject to volume discounts, then:
A. the budget line will get steeper as the consumer moves along it from left to right. B. the budget line will get flatter as the consumer moves along it from left to right. C. the indifference curve will get steeper as the consumer moves along it from left to right. D. the indifference curve will get flatter as the consumer moves along it from left to right.
An appreciation of the U.S. dollar against foreign currencies tends to __________ U.S. net exports and shift the U.S. AD curve to the __________
A) raise; right B) raise; left C) lower; right D) lower; left
Economic models are NOT used to
A) explain economic phenomena. B) predict economic phenomena. C) understand economic phenomena. D) describe all economic phenomena in finest detail.
To the extent that a direct expenditure offset results from an expansionary fiscal policy,
A) the fiscal policy will not be discretionary. B) the time lags associated with the implementation of fiscal policy will shorten. C) the stimulative effect will be less than anticipated. D) the stimulative effect will be more than anticipated.