The benefits of specialization can be used to explain why:
A. machines are more productive than human workers.
B. individuals and nations benefit from trade.
C. big companies take advantage of smaller ones.
D. workers prefer to work on a variety of tasks during the day.
Answer: B
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What is the relationship between the slope of the aggregate expenditure curve and the expenditure multiplier?
What will be an ideal response?
When compared with other governments around the world, government spending in the United States as a percentage of GDP_____
a. is generally lower than similar countries b. is generally higher than similar countries c. is about average relative to similar countries d. is impossible to compute because of differences between countries
A leftward shift of the demand curve will lead to a(n)
A) decrease in equilibrium price. B) excess supply at the old equilibrium price. C) decrease in quantity supplied. D) All of the above.
Which of the following is not true about the housing market?
a. The price of housing will increase or decrease in order to achieve an equilibrium b. An increase in the demand for housing will cause an increase in the quantity supplied of housing c. When the demand for housing increases, the price of housing will increase but the quantity supplied will not increase in the short run d. The housing market is a unique market because most people had to borrow money to buy their homes e. The only way to increase the supply of housing is to build more houses