If memberships in health clubs and hospital fitness centers are substitutes and the price of health club memberships rises, what will happen?
A. Demand for health club memberships will fall.
B. Demand for health club memberships will rise.
C. Demand for hospital fitness center memberships will rise.
D. Demand for hospital fitness center memberships will fall.
C. Demand for hospital fitness center memberships will rise.
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Why is it that North-South trade in manufactures seems to be consistent with the results or expectations generated by the factor-proportions theory of international trade, whereas North-North trade is not?
What will be an ideal response?
The legislature is equivalent to a political market because _____
a. legislators are akin to price takers b. policies can be bought and sold c. legislators can be bought and sold d. logrolling allows legislators to trade amongst themselves
Which of the following makes up the balance on current account?
a. The capital account, the merchandise trade balance, and net investment income from abroad. b. The balance on goods and services, net investment income from abroad, and net unilateral transfers abroad. c. The merchandise trade balance, net unilateral transfers abroad, and capital inflows. d. The balance on goods and services plus capital outflows minus net unilateral transfers abroad.
According to many modern monetarists
A. the government can minimize economic instability by stabilizing growth of the money supply at a constant low rate. B. short-run variations in an economy's productive capacity can be predicted precisely. C. discretionary monetary policy enables the Federal Reserve System to closely control the economy. D. the money supply should grow at a rate determined by short-run economic fluctuations.