A decrease in the unemployment rate may be represented as a movement from a point on the production possibilities frontier to a point outside the frontier
Indicate whether the statement is true or false
FALSE
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Something is a normal good if
A) the demand for it decreases when its price rises. B) the demand for it decreases when its price falls. C) the demand for it increases when income rises. D) the demand for it increases when income falls.
Which of the following is an example of a negative externality?
A. Bad weather reduces the size of the wheat crop. B. A reduction in the size of the wheat crop causes the income of wheat farmers to fall. C. Smoking harms the health of nonsmokers who are nearby. D. Smoking harms the health of the smoker. E. all of the above
A fundamental criticism of Time on the Cross is that economics cannot be used to simply compare the welfare of the slaves to their free, white counterparts
Indicate whether the statement is true or false
Higher interest rates lead to lower investment spending.
Answer the following statement true (T) or false (F)