All straight-line demand curves have the same elasticity value since the slope is constant.
Answer the following statement true (T) or false (F)
False
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Explain the motives of developed countries in providing foreign aid
What will be an ideal response?
The level of aggregate output and income where there is a balance between spending and production decisions and where the economy moves toward is called:
A) disequilibrium level of output and income. B) equilibrium level of output and income. C) disequilibrium level of employment. D) none of the above.
What does Simon Kuznet's (1958) study on the U.S. economy show?
(a) Short swings in the U.S. business cycles but steady, stable growth in Real Gross Domestic Product (b) Immigrants to the U.S. were attracted by the secular increases in U.S. real wages and incomes (c) A decrease, not increase, in net U.S. migration from 1860 to 1910 (d) No movement in capital, only humans, across the Atlantic economy from 1860 to 1910
In a competitive labor market, if the demand for labor decreases, labor demand will shift to the:
A. right and wages will increase. B. left and wages will increase. C. right and wages will decrease. D. left and wages will decrease.