Which of the following would cause an increase in the equilibrium price and an increase in the equilibrium quantity of watermelons?
A) an increase in supply and an increase in demand greater than the increase in supply
B) an increase in demand and an increase in supply
C) a decrease in demand and an increase in supply
D) an increase in supply
A
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Which of the following is an example of a forward linkage?
a. A government spending program reduces the nation's level of unemployment. b. A compact disc industry creates a demand for CD players. c. The development of a shoe industry creates a demand for a leather industry. d. An increase in the population increases the demand for food. e. New educational facilities improve the literacy rate of the population.
The _________ approach allows us to calculate GDP and _________ is not a component of GDP
a. income; personal consumption b. income; exports c. expenditure; durable goods d. expenditure; government purchases e. expenditure; interest
If the dollar depreciates relative to the Peso, it can be said that
a. Mexican citizens no longer respect the United States. b. the dollar falls in value within the United States. c. it takes fewer dollars to buy Pesos. d. the Peso appreciates relative to the dollar.
Economists use the term inflation to describe a situation in which the economy's overall production level is rising
a. True b. False Indicate whether the statement is true or false