Left to themselves, most markets will eventually reach market equilibrium.
Answer the following statement true (T) or false (F)
True
If left to themselves, most markets will eventually reach market equilibrium, where the quantity demanded and the quantity supplied are equal.
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In the classical model, an increase in aggregate demand will lead to an increase in wage rates while a decrease in aggregate demand will
A) change the price of capital. B) leave wages unchanged since workers will not take a cut in pay. C) increase wages since business will be desperate for labor. D) decrease wages.
In developing countries, economists have found ________ correlation between a person's height and the wages he can earn in the farming sector
A) no B) an inverse C) a weak D) a strong
Envision a graph with meat on the horizontal axis and vegetables on the vertical axis. A strict vegetarian would have indifference curves that are:
A) vertical lines. B) horizontal lines. C) diagonal straight lines. D) right angles. E) upward sloping.
Macroeconomics includes the study of:
A. How the economy works on a regional, national, or international scale. B. How rent ceilings impact the construction rates of new apartments. C. How the increase in the labor force participation rate by females impacts childhood obesity. D. How grocery cart rental fees impact parking lot accident rates.