The consumption function has a positive slope while the savings function has a negative slope
a. True
b. False
Indicate whether the statement is true or false
False
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Studies by economists have tended to show that countries with more independent central banks have
A) lower unemployment. B) more inflation. C) higher unemployment. D) less inflation.
Compare and contrast the outcomes with respect to price and output in a monopolistically competitive market and a perfectly competitive market. In which situation are consumers better off? Why?
What will be an ideal response?
Suppose a video craze in the United States makes a particular Japanese-produced video game very popular. This would tend to:
a. affect the U.S. balance of payments but not the balance of trade. b. reduce any existing balance of trade deficit in the United States. c. increase the balance of trade deficit of the United States d. increase the balance of trade surplus of the United States.
The law of demand states that, other things equal, when the price of a good rises, the quantity demanded of the good rises, and when the price falls, the quantity demanded falls
a. True b. False Indicate whether the statement is true or false