A movement upward along a given aggregate demand curve is equivalent to a(n):
A. Increase in aggregate supply
B. Increase in aggregate demand
C. Upward shift in the aggregate expenditures schedule
D. Downward shift in the aggregate expenditures schedule
D. Downward shift in the aggregate expenditures schedule
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The reason why the differences in the growth stories of North Korea and South Korea can be viewed approximately as a natural experiment or an experiment of history is that:
A) institutions in both countries was changing radically, while geography and culture remained largely unchanged. B) culture in both countries was changing radically, while geography and institutions remained largely unchanged. C) geography in both countries was changing radically, while culture and institutions remained largely unchanged. D) institutions, geography, and culture in both countries were changing radically.
Suppose in Belgium, the opportunity cost of producing a trombone is 8 clarinets. In Denmark, the opportunity cost of producing a trombone is 6 clarinets
a. What is the opportunity cost of producing a clarinet for Belgium? b. What is the opportunity cost of producing a clarinet for Denmark? c. Which country has a comparative advantage in the production of clarinets? d. Which country has a comparative advantage in the production of trombones?
Jim is haggling with a car dealer on the price of a used car. If the dealer is getting a bonus per sale made, in addition to the commission, the storekeeper's
a. Disagreement value increases b. Eagerness to agree increases c. Disagreement value decreases d. Both B&C
Oliver decides to spend an hour playing basketball rather than studying. His opportunity cost of playing is: a. the amount of time he decides to dedicate to basketball
b. the increase in his skill as a basketball player from playing for that hour. c. the benefit to his grades from studying for an hour. d. the injury he might get by playing.