U.S. national defense spending is approximately ____ the amount spent on health care
a. twice
b. four times
c. ten times
d. 1/4
d
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Which of the following statements is true?
A) Trade leads to inefficient allocation of resources. B) Trade discourages workers to specialize in production. C) International trade creates supply bottlenecks. D) Trade allows people to choose occupations that suit their talents.
For a given level of the money wage, an increase in the price level will cause the
a. supply of labor to rise. b. quantity of labor demanded to rise. c. price of leisure to rise. d. quantity of labor demanded to rise. e. both b and d.
Refer to Figure e. Brandon and Allie want to go on a date one summer evening. Allie is a Red Sox fan, while Brandon is a Mets fan. Both teams are playing that evening, but not against each other. Each would rather watch their favorite team, but neither can force the other to watch a particular game, and each is willing to suffer through the other's game if it means time together. If Allie watches the Mets, what is Brandon's best response?
A. Brandon should watch the Red Sox.
B. Brandon should watch the Mets.
C. It does not matter which Brandon watches; he is indifferent between the Red Sox and the Mets.
D. Brandon should not consider Allie's choice when making her decision.
The real balances effect is caused by an inverse relationship between the price level and the real value of financial assets with fixed nominal value
a. True b. False Indicate whether the statement is true or false