Increased levels of spending on imports:
a) Shift aggregate supply to the right
b) Shift aggregate supply to the left
c) Shift aggregate demand to the right
d) Shift aggregate demand to the left
Answer: d) Shift aggregate demand to the left
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The distinction between international trade and international money is not entirely clear because
A) real developments in the trade accounts do not have monetary implications. B) the balance of payments includes only real measures. C) developments caused by purely monetary changes have no real effects. D) trade models focus on real, or barter relationships. E) most international trade involves monetary transactions.
The F-test is used to determine if
A) a regression coefficient is significant. B) multicollinearity exists. C) a regression equation significantly accounts for the variation in the value of a dependent variable. D) an identification problem is present.
Refer to the above table. The price of a hamburger is $2, the price of a movie is $10, and the consumer has $44. What is the change in quantity demanded of hamburgers if the price of a hamburger decreases to $1?
A. Quantity demanded increases by 2 hamburgers. B. Quantity demanded increases by 4 hamburgers. C. Quantity demanded increases by 1 hamburger. D. Quantity demanded increases by 3 hamburgers.
The first minimum wage law was adopted
A. in New Zealand in 1894. B. in England in 1876. C. in the United States in 1938. D. in Germany in 1922.