Increases in the overall price level:
A. increases people's dollar-denominated wealth.
B. generally has no effect on spending.
C. result in people reducing their consumption.
D. result in people increasing their consumption.
Answer: C
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Free trade will affect a country's employment in different industries
Indicate whether the statement is true or false
In the figure above, the Lorenz curve that shows the least inequality, but NOT perfect equality, is
A) curve A. B) curve B. C) curve C. D) curve D.
If increased capital usage reduces the firm's short-run demand for labor, then
a. labor is a regressive factor. b. labor and capital are complements in production. c. labor and capital are substitutes in production. d. labor is a Giffen factor.
In the above table, when output increases from 8 to 12 units, the marginal cost of one of those 4 units is
A) $1.20. B) $2.00. C) $5.00. D) $15.00.