Productivity tends to
A. fall during expansions.
B. rise during expansions.
C. rise throughout the business cycle.
D. rise during contractions.
Answer: B
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An exchange rate is the price of one country's currency in terms of another country's currency
Indicate whether the statement is true or false
If only one good is supplied and demanded in an economy, then GDP will be equal to the price of the good multiplied by the number of units of the good supplied in a year
a. True b. False Indicate whether the statement is true or false
When total spending is less than production, GDP will decrease.
Answer the following statement true (T) or false (F)
Which of the following is used to explain why a consumer's willingness to buy Microsoft Office increases as the number of other people who use Microsoft Office increases?
A) network externalities B) market failure C) diminishing marginal utility D) the income effect of a price change