The global financial panic in September 2008 that led to a sharp fall in business investment spending and consumer spending can be viewed as:
a. a sharp decrease in aggregate supply
b. a sharp decrease in aggregate demand.
c. a sharp decrease in both aggregate supply and aggregate demand.
d. a modest increase in aggregate supply.
e. a modest increase in both aggregate demand and aggregate supply.
b
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Neil and Derek are brothers who are very fond of watching television. They share a television but watch different shows. Every evening after coming home from school, they argue over who will watch television and for how long
Irritated with their fight, their parents asked Neil to decide for how long each of them would watch television. They also told him that if the brothers failed to reach an agreement, they would not let either of them watch it. a) How should Neil make his decision? b) What will be the outcome if Derek prefers fairness over watching television?
If A and B are complements, an increase in the price of good A would:
A. lead to a decrease in demand for B. B. lead to an increase in demand for B. C. have no effect on the quantity demanded of B. D. none of the statements associated with this question are correct.
Over the past 50 years, the exports of developing countries have shifted toward ___________
A) agricultural products. B) retail/wholesale. C) financial services. D) mineral products. E) manufactured products.
The United States has the least income inequality of all the nations in the world.
Answer the following statement true (T) or false (F)