An increase in which of the following determinants of demand will have an ambiguous (uncertain) effect on price?
A. price of a complement
B. taste
C. price of a substitute
D. income
Answer: D
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Which of the following statements is correct?
A) An increase in the money wage rate shifts the aggregate demand curve leftward. B) An increase in the price level shifts the aggregate demand curve leftward. C) An increase in the price level shifts the aggregate demand curve rightward. D) An increase in the quantity of the money shifts the aggregate demand curve rightward. E) An increase in the real interest rate shifts the aggregate demand curve rightward.
With no international trade, a country ________ consume at a point outside of its PPF; with international trade, a country ________ consume at a point outside of its PPF
A) cannot; can B) can; can C) can; cannot D) cannot; cannot E) None of the above answers is correct because the presence or absence of international trade has nothing to do with where a country consumes in comparison to its PPF.
Explain the concept of moral hazard. Give an example
What will be an ideal response?
The nation's antitrust laws are enforced by economists at the Department of
a. Labor. b. Health and Human Services. c. Justice. d. Treasury.