Refer to Figure 24-2. Ceteris paribus, a decrease in the labor force would be represented by a movement from
A) SRAS1 to SRAS2. B) SRAS2 to SRAS1. C) point A to point B. D) point B to point A.
B
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If the world price for good A is above the domestic price for good A without trade, then the price the consumer pays for good A will ________ and the price the producer receives for good A will ________ with trade.
A. increase; increase B. decrease; increase C. decrease; decrease D. increase; decrease
Becky holds $30,000 as money. After a year during which inflation was 5 percent a year, the inflation tax over that year was
A) $1,000. B) $1,500. C) $500. D) $5. E) $3,000.
What impact does an increase in the price level in the United States have on net exports and why?
A) An increase in the price level decreases net exports by increasing the relative cost of American goods. B) An increase in the price level increases net exports because higher prices decrease American spending on imports. C) An increase in the price level decreases net exports because higher prices decrease the value of the dollar. D) An increase in the price level increases net exports because higher prices lower the value of the dollar.
What is immizerizing growth? Describe how it could happen and give at least one cited historical example
What will be an ideal response?