In the short run, if AD increases, the unemployment rate will
A. Rise, and the price level will rise.
B. Fall, and the price level will fall.
C. Fall, and the price level will rise.
D. Rise, and the price level will fall.
Answer: C
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The figure above illustrates a linear demand curve. If the price rises from $6 to $8 demand is ________ and if the price falls from $8 to $6 demand is ________
A) elastic; elastic B) elastic; inelastic C) inelastic; elastic D) inelastic; inelastic
The potential for profit-increasing false advertising is greatest for which of the following goods?
A) a washing machine B) spot carpet cleaner C) hair shampoo D) toothpaste
International trade on the basis of comparative advantage maximizes world output and allows consumers to access better-quality products at lower prices than would be available in the domestic market alone
a. True b. False Indicate whether the statement is true or false
Marginal land is land on the borderline of
A. producing revenue. B. being used profitably. C. producing economic rent. D. a facility that produces output.