If a country has a trade deficit then
a. S > I and Y > C + I + G.
b. S > I and Y < C + I + G.
c. S < I and Y > C + I + G.
d. S < I and Y < C + I + G.
d
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In a perfectly competitive market, in the long run a permanent decrease in the market demand results in a smaller number of firms
Indicate whether the statement is true or false
Over the past several decades in the United States, the labor-force participation rate of women has increased and the labor-force participation rate of men had decreased
a. True b. False Indicate whether the statement is true or false
Starting from long-run equilibrium, a war that raises government purchases results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; potential C. higher; higher D. lower; higher
Gigantic State University raises tuition for the purpose of increasing its revenue so that more faculty can be hired. GSU is assuming that the demand for education at GSU is:
A. decreasing. B. relatively elastic. C. perfectly elastic. D. relatively inelastic.