Which of the following would result in a decrease in demand for BMW automobiles?
A. An increase in the price of BMW automobiles
B. A decrease in the price of BMW automobiles
C. A decrease in the price of Mercedes Benz automobiles
D. An increase in the price of Mercedes Benz automobiles
Answer: C
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In order to maximize profits, firms organize their production using
A) only a command system. B) only an incentive system. C) a combination of command and incentive systems. D) neither a command nor an incentive system.
Why is the budget line negatively sloped?
What will be an ideal response?
Which of the following would NOT be a reason why developed nations would try to coordinate their macroeconomic policies?
A) To achieve a desirable level of world economic growth B) To avoid imposing a disproportionate burden on one major country in its attempt to help other world economies C) To stimulate production in other countries using the higher incomes generated by policy coordination D) To coordinate retaliatory policies on developing countries' trade barriers E) None of the above. That is, A, B, C, and D are all correct.
If velocity is a constant, then the equation of exchange is an economic model
a. True b. False Indicate whether the statement is true or false