German luxury car exports were hurt in 2009 as a result of the recession. How would this decrease in exports have affected Germany's aggregate demand curve?
A) The aggregate demand curve would have shifted to the right.
B) The aggregate demand curve would have shifted to the left.
C) The aggregate demand curve would not have shifted, but there would have been a movement down the aggregate demand curve.
D) The aggregate demand curve would not have shifted, but there would have been a movement up the aggregate demand curve.
B
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The demand for food is most elastic in countries
A) with low income levels. B) with intermediate income levels. C) with high income levels. D) that are highly urbanized.
If, after hiring the 6th worker, a firm's output falls, then the marginal product of the 6th worker is negative
Indicate whether the statement is true or false
The activist response to the monetarist platform says that
A) private spending may show some stability, but monetary or fiscal policy designed to stabilize it will just make things worse. B) private spending is stable partly because consumption spending is based on permanent income. C) even if prices are not completely flexible in the short-run, given time there is enough flexibility for the system to return to the natural level of real GDP. D) None of the above.
In connection with laborers, the law of conspiracy meant that
(a) employers had every right to organize or conspire to keep wages low and prices high. (b) workers had every right to organize or conspire to keep wages high and working hours short. (c) workers could organize unions to promote their own interests as long as they did it publicly and in fair dealings with employers and did not "conspire" to do it in secret meetings not open to the public. (d) worker organizations aimed at promoting the economic interests of the members were illegal.