Mauritius, an island off the coast of Africa, competes with other countries producing goods with low-skilled labor. In 2006, it was reported that its "...factories have been exposed to ... competition from China, India, and other Asian mass producers." As a result, "the main export industry has seen a 30% reduction in volume..." The story describes:
a) a decrease in autonomous expenditure
b) a decrease in induced expenditure
c) an unplanned decrease in inventories
d) an increase in equilibrium expenditure
a) a decrease in autonomous expenditure
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When people who are willing and able to work cannot find jobs, ________ is said to exist
Fill in the blank(s) with correct word
Suppose that in Canada the government places a $1,500 tax on the buyers of new snowmobiles. After the purchase of a new snowmobile, a buyer must pay the government $1,500. How would the imposition of the tax on buyers be illustrated in a graph?
A) The tax will shift both the demand and supply curves to the right by $1,500. B) The tax will shift the demand curve to the left by $1,500. C) The tax will shift the supply curve to the left by $1,500. D) The tax will shift the demand curve to the right by $1,500.
An increase in the demand for rubles causes the ruble to appreciate
a. True b. False Indicate whether the statement is true or false
Marginal utility measures the increase in total utility that a person derives from consuming one more unit of a good
Indicate whether the statement is true or false