Changes in the national incomes of our trading partners would directly affect our ________.
A. imports
B. consumption
C. government spending
D. exports
Answer: D
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The "rational expectations" school of economists, including Robert Lucas and Thomas Sargent, argue that changes in monetary policy cannot affect unemployment rates in the short run or long run
Indicate whether the statement is true or false
The text points out that since the 1970s, which of the following regions of the United States became a "population magnet?"
a. Midwest b. Northeast c. South d. West e. North
Suppose that studies show that a ten percent increase in the minimum wage decreases the number of minimum wage jobs by one percent. That would be the case if:
A. demand for labor is inelastic. B. demand for labor is elastic. C. supply of labor is inelastic. D. supply of labor is elastic.
Refer to the information provided in Table 3.1 below to answer the question(s) that follow. Table 3.1Price per PizzaQuantity Demanded (Pizzas per Month)Quantity Supplied (Pizzas per Month)$31,200 600 61,000 700 9 800 80012 600 90015 4001,000Refer to Table 3.1. In this market there will be an excess demand of 300 pizzas at a price of
A. $6. B. $9. C. $12. D. $15.