Figure 17-5
Refer to . If this country chooses to trade, the price of baskets in this country will be
a.
$10 and 40 baskets will be sold domestically.
b.
$10 and 105 baskets will be domestically.
c.
$7 and 70 baskets will be sold domestically.
d.
$7 and 40 baskets will be sold domestically.
a
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Which of the following events can not cause the labor-supply curve to shift?
a. a change in people's attitudes toward work b. an increase in the price of output c. a change in workers' alternative opportunities d. an increase in the rate of immigration
An aggregate demand (AD) curve shows the
A) amount of a particular good people are willing and able to buy at a particular price, ceteris paribus. B) real output (Real GDP) people are willing and able to sell at different price levels, ceteris paribus. C) real output (Real (GDP) people are willing and able to buy and to sell at different price levels, ceteris paribus. D) real output (Real GDP) people are willing and able to buy at different price levels, ceteris paribus.
Discuss the benefits of long-term economic growth. What are the factors that contribute to economic growth? Provide your perspective as to what our society can do to enhance economic growth.
A form of implicit collusion where one firm in an oligopoly announces a price change which is matched by other firms in the same industry is
A) "follow the leader" pricing. B) price leadership. C) retaliation pricing. D) "tit-for-tat" pricing.