According to the text, a military draft is most likely to have which of the following effects on the market for fish? It will
a. increase the supply
b. increase the demand
c. decrease the supply
d. decrease the demand
e. lower the price
C
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Macroeconomics is best described as the study of
A) the nation's economy as a whole. B) very large issues. C) the choices made by individual households, firms, and governments. D) the relationship between inflation and wage inequality.
Suppose the supply of land is infinitely inelastic and the demand for land is downward sloping but inelastic at the current equilibrium. If the supply curve shifts rightward (e.g
, previously unusable land is cleared for production), what happens to the aggregate economic rents in this market? A) Decrease B) Increase C) Remain the same D) We do not have enough information to answer this question.
Ingrid operates a business that provides optics equipment to the government. She just received a government contract for $2 million. She then hires three new employees and buys a great quantity of supplies from several vendors. Her employees and the vendors earn more money, pay more taxes, spend more money, and save more money. This is an example of ______.
a. automatic stabilization b. the Laffer curve c. the multiplier effect d. contractionary policy
A country's nominal exchange rate, e, is defined as the number of units of:
A. the foreign currency that one unit of the domestic currency will buy. B. foreign goods relative to the number of units of domestic goods. C. the domestic currency that one unit of the foreign currency will buy. D. domestic goods relative to the number of units of foreign goods.