It is urgent that the U.S. improve in certain economic arenas
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
Which of the following helps explain why the aggregate quantity demanded of goods and services is inversely related to prices within the framework of the AD/AS model?
a. As prices fall, domestic consumers have an incentive to buy more of the cheaper goods and services. b. As prices fall, the monetary authorities will have to increase the money supply, which will lead to an increase in the quantity of goods and services purchased. c. As prices fall, the government will have to reduce taxes, which will lead to an increase in the quantity of goods and services purchased. d. As prices fall, the wealth of people holding the fixed quantity of money increases, causing them to expand their purchases of goods and services.
Capital owners are compensated according to the value of the marginal product of that capital
a. True b. False Indicate whether the statement is true or false
Technological advances will cause the supply curve to:
A. shift to the left. B. become steeper. C. become flatter. D. shift to the right.
The demand curve for labor slopes down because
A) firms value less efficient workers less than they value more efficient workers. B) firms must lower prices to sell the additional units of its product that the extra workers produce. C) of the law of diminishing marginal product. D) of profit maximizing behavior.