Perfect substitutes
A) always have indifference curves with slopes of -1.
B) always have indifference curves with slopes of 1.
C) have fixed rates of trading off one good for another.
D) have horizontal indifference curves.
C
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In the 1980s, Japan agreed to limit the quantity of automobiles it would export to the United States. Why did the Japanese government agree to this trade restriction?
A) The Japanese government wanted more automobiles to be available for export to countries other than the United States. B) The Japanese government feared that the alternative would be a tariff or quota on imports of Japanese automobiles imposed by the U.S. government. C) The Japanese government wanted to limit sales to the United States in order to make more automobiles available for Japanese consumers. D) Japanese automobile producers lobbied for the restrictions in order to increase the price of their exports to the United States.
The United States has approximately
a. 80,000 businesses. b. 5.1 million businesses. c. 12.5 million businesses. d. 28.million businesses.
How can we explain the effect of a proportional tax on the multiplier?
What will be an ideal response?
The schedule describing the Keynesian consumption function will become steeper with an increase in ________
A) consumption spending B) autonomous consumption C) the marginal propensity to consume D) the marginal propensity to save