Use the following graph to answer the next question.
If AD1 shifts to AD2, with no change in the price level, there will be an increase in Real GDP from ________.
A. Q1 to Q2
B. Q2 to more than Q3
C. Q2 to Q3
D. Q1 to Q3
Answer: D
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If a product becomes more popular and consumers want more produced, which of the following best describes what happens to move more factors of production into that industry?
A) An agency of the Federal government directs the movement of factors. B) The chief executive officers or presidents of corporations require that factors leave one industry and move to the other industry. C) Factor owners voluntarily move their factors because they want to satisfy the interests of consumers. D) Wages, rent, interest, and profit increase in that industry, thereby giving factors the incentive to move to that industry. E) Consumers increase their demand for the products and, as a result, the taxes the producers must pay decrease enabling the producers to hire more factors of production.
Briefly describe the most important differences between the market for health care and the market for other goods and services
What will be an ideal response?
Two receptionists work at Widget, Inc., one in the morning and one in the afternoon. They are an example of
a. job specialization b. job rotation c. job sharing d. none of the above
Which of the following is an index of exchange rates?
A) import-export ratio B) trade-weighted exchange rate C) trade balance index D) foreign price-domestic price ratio