Which of the following is the correct sequence of events for this graph?
a. Q1 moves to QSR; Q1 moves to QLR; P1 moves to P2
b. Q1 moves to QSR; P1 moves to P2; Q1 moves to QLR
c. P1 moves to P2; Q1 moves to QLR; Q1 moves to QSR
d. P1 moves to P2; Q1 moves to QSR; Q1 moves to QLR
d. P1 moves to P2; Q1 moves to QSR; Q1 moves to QLR
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Net capital outflows ________
A) are also known as net foreign investment B) are positive if saving is greater than investment C) are also known as the trade balance D) all of the above E) none of the above
Your savings account balance would be counted in which measure of money?
A. M1 B. M2 C. Hard money D. It would be counted in both M1 and M2
If MRP = MLC, the firm
a. is employing the optimal quantity of workers b. should decrease the quantity of labor it employs c. should lower the wage rate d. should increase the quantity of labor it employs e. should raise the wage rate
Suppose that the income elasticity of demand for frozen dinners is negative. Other things being equal, which of the following statements is INCORRECT?
A. Frozen dinners are an inferior good. B. The quantity demanded of frozen dinners increases as a consumer's income declines. C. There exists a negative relationship between income and the demand for frozen dinners. D. The share of income spent on frozen dinners must decrease as a consumer's income decreases.