Demand for a factor can shift for all of the following reasons except?
A. Change in demand for the final product
B. Change in the factor's price
C. Change in the price of other factors
D. Change in technology
B. Change in the factor's price
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According to both the equation of exchange and the quantity theory of money
A) an increase in the money supply will decrease real Gross Domestic Product (GDP). B) a decrease in the money supply will decrease the velocity of money. C) a decrease in the money supply will decrease the price level. D) an increase in the money supply will increase real Gross Domestic Product (GDP).
Refer to Figure 4-9. How much of the tax is paid by buyers?
A) $8 B) $5 C) $4 D) $3
Real standards of living can only go up with positive economic growth.
Answer the following statement(s) true (T) or false (F)
Investment is usually
A) more variable than consumption. B) less variable than consumption. C) as variable as consumption. D) It is hard to tell from the data whether investment is more or less variable than consumption. E) a larger component of the GNP than consumption.