All the countries of the EU participate in the Schengen Agreement
Indicate whether the statement is true or false
FALSE
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If all firms in a monopolistically competitive market are incurring losses, then eventually:
a. the demand for the products in the market will increase. b. the supply of the products in the market will increase. c. the price of the products in general will decline. d. the cost of production will increase. e. the firms will exit until the existing ones just break even.
Suppose the U.S. government banned the sale and production of cigarettes. Which of the following would be most likely to occur?
a. No one would smoke anymore. b. The amount of violence involved in the buying and selling of cigarettes would increase. c. The price of cigarettes would decrease. d. The supply for cigarettes would become elastic.
Assume that business investment spending rises, and the increase is funded by greater borrowing in the capital markets. If the nation has low mobility international capital markets and a fixed exchange rate system, what happens to the quantity of real loanable funds per time period and current international transactions in the context of the Three-Sector-Model?
a. The quantity of real loanable funds per time period falls and current international transactions become more negative (or less positive). b. The quantity of real loanable funds per time period rises and current international transactions become more negative (or less positive). c. The quantity of real loanable funds per time period and current international transactions remain the same. d. The quantity of real loanable funds per time period rises and current international transactions remain the same. e. There is not enough information to determine what happens to these two macroeconomic variables.
With an upward-sloping supply curve, which of the following is true?
a. An increase in price results in an increase in supply. b. A decrease in price results in a decrease in quantity supplied. c. A decrease in price results in an increase in supply. d. An increase in price results in a decrease in quantity supplied.