Bananas, chocolate bars, chewing gum, orange juice and yogurt are considered to be ________ goods
A) service B) durable C) nondurable D) essential
C
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Refer to Mexico and Japan. What is the cost of producing cloth in Japan?
a. 1/2 bushel of food per bolt of cloth.
b. 3/4 bushel of food per bolt of cloth.
c. 4/3 bushels of food per bolt of cloth.
d. 3 bushels of food per bolt of cloth.
Along the short-run Phillips curve SRPC2 the natural unemployment rate is
A) 8 percent. B) 3 percent. C) 4 percent. D) 6 percent. E) an amount that can be determined from the figure but none of the above answers is correct.
If consumption increases in general the aggregate demand curve will:
A. shift straight down. B. shift to the right. C. remain unchanged but the economy will move down along the curve to a higher quantity. D. remain unchanged but the economy will move down along the curve to a lower quantity.
Economic models are often expressed in
a. equations. b. words. c. graphs. d. physical objects..