A current account deficit suggests that a country is importing more than it is exporting and building up foreign debt.
a. true
b. false
a. true
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When a market is in surplus, there is pressure for the price to move upward
a. True b. False Indicate whether the statement is true or false
When a consumption schedule is plotted as a straight line, the slope of the consumption line is:
A. Vertical B. Horizontal C. Greater than the slope of the 45° line D. Less than the slope of the 45° line
One of the primary objections to the new classical model is that ________
A) firms could easily get information about price movements and so would not be fooled for very long B) price is negatively related to quantity demanded, but positively related to quantity supplied C) business cycles are relatively brief in duration D) it failed to incorporate rational expectations into its presentation
If the price of Pepsi-Cola increases from 50 cents to 60 cents per can and the quantity demanded decreases from 100 cans to 50 cans, then the Pepsi-Cola Company could increase its total revenue by
a. lowering price b. decreasing quantity supplied c. leaving price the same d. raising price e. decreasing supply