If consumers' confidence in the economy rises
A. aggregate demand will shift leftward and the price level will fall.
B. aggregate demand will shift rightward and the price level will rise.
C. aggregate demand will shift leftward and the price level will rise.
D. aggregate demand will shift rightward and the price level will fall.
Answer: B
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If the current quantity demanded of John Deere tractors is 50,000 tractors, and the quantity supplied is 75,000 tractors, then
A) there is a shortage of 25,000 tractors. B) there is a surplus of 25,000 tractors. C) there is a shortage of 125,000 tractors. D) there is a surplus of 125,00 tractors.
In the above figure, the slope at point b is
A) 1. B) 5/2. C) between 1 and 5/2. D) greater than 5/2.
Refer to the figure below:
If the price is $16, the resulting
A. surplus will lead to a rise in price. B. shortage will lead to a fall in price. C. surplus will lead to a fall in price. D. shortage will lead to a rise in price.
Refer to the information provided in Table 20.4 below to answer the question(s) that follow. Table 20.4GermanyChileBeerWineBeerWine(cases)(cases)(cases)(cases)75030 060152412453018 24304512 361560 6 48075 0 60 Refer to Table 20.4. Germany has
A. an absolute advantage in wine production. B. an absolute advantage in beer production. C. a comparative advantage in beer production. D. all of the above.