Unplanned inventory decreases prompt firms to cut back on production until equilibrium output is restored
a. True
b. False
Indicate whether the statement is true or false
False
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Suppose Mexico can produce 5 autos or 10 corn. Suppose the United States can produce 4 autos or 20 corn. If opportunity costs are constant for both countries, which of the following would NOT be a potential terms of trade?
A) 1 auto for 3 corn B) 1 auto for 4 corn C) 1 corn for 1/3 of an auto D) 1 corn for 1 auto
Need establishes eligiblility for Social Security benefits
Indicate whether the statement is true or false
As the percentage of the labor force belonging to a union fell in the United States during the 1955 through early 2000 period, the share of national income going to labor
a. increased 10 percent. b. remained approximately the same. c. decreased 10 percent. d. decreased 20 percent.
Which of the following decreases in response to the interest-rate effect from an increase in the price level?
a. both investment and consumption b. consumption but not investment c. investment but not consumption d. neither investment nor consumption