Other things constant, an increase in the demand for motorcycles will
a. decrease the price of motorcycles.
b. decrease the quantity of motorcycles bought and sold.
c. decrease the demand for motorcycle workers and lower their wages.
d. increase the demand for motorcycle workers and increase their wages.
d. increase the demand for motorcycle workers and increase their wages.
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Since World War II, world trade has
A) decreased in importance as nations turn inward due to security concerns. B) increased, but not as dramatically as annual world real GDP has climbed. C) risen sharply, outpacing gains in annual world real GDP. D) increased in relative importance for most nations, but not for the United States.
As the interest rate increases, the velocity of money will increase as well
a. True b. False Indicate whether the statement is true or false
If the government imposes a binding price floor in a market, then the consumer surplus in that market will increase
a. True b. False Indicate whether the statement is true or false
Without a change in target inflation, anything that shifts the aggregate demand curve to the right will cause:
A. a temporary increase in output. B. an increase in output in the long run. C. a permanent reduction in inflation. D. a temporary decrease in inflation.