A decrease in U.S. exports to Japan can be represented by
A. The aggregate expenditure curve shifting downward.
B. The aggregate expenditure curve shifting upward.
C. A rightward movement along the aggregate expenditure curve.
D. A leftward movement along the aggregate expenditure curve.
Answer: A
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If the institutions in an economy change from being inclusive to extractive, then in the economy:
A) the returns to entrepreneurship will increase. B) the opportunity cost of entrepreneurship will decrease. C) the number of entrepreneurs will decrease. D) existing entrepreneurs will earn higher profits.
A profit-maximizing firm invests up to the point at which the marginal rate of return on capital is greatest
a. True b. False
Refer to Figure 6.1. Assume that L1 represents the budget line before a price change. Which change in budget lines represents compensation?
A. L1 to L2
B. L2 to L3
C. L3 to L2
D. L1 to L3
An increase in the price level causes the aggregate supply curve to shift to another supply schedule.
Answer the following statement true (T) or false (F)