According to the law of demand, if the price of a netbook decreases, ceteris paribus, the demand for netbooks would increase
a. True
b. False
Indicate whether the statement is true or false
False
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During World War II, prisoners of war used ________ as money
A) bullets B) cowrie shells C) chocolate D) cigarettes
A sign that Country A is under pressure to appreciate its currency is its:
a. Current account is in surplus. b. Reserves account is in surplus (i.e., positive). c. Overall balance is in deficit. d. Overall balance is in surplus. e. All of the above.
Starting from short-run equilibrium, the following occurs: individuals expect higher (future) incomes and wage rates rise. What is the effect on the price level and Real GDP in the short run?
A) The price level rises and Real GDP rises. B) The price level falls and Real GDP falls. C) The price level rises, but the effect on Real GDP cannot be determined. D) Real GDP rises, but the effect on the price level cannot be determined. E) Real GDP falls, but the effect on the price level cannot be determined.
Judging from the table showing income inequality in the United States, the Great Depression and new social programs of the 1930s, plus the impact of World War II, caused the proportion of income earned by the wealthiest Americans to ______.
a. drop significantly
b. drop slightly
c. rise slightly
d. rise dramatically