To construct an ordinary demand curve for good X,
a. change the price of good X in the consumer choice diagram and observe the change in the quantity of good X among the optimum market baskets.
b. change the prices of both goods in the consumer choice diagram and observe the change in the quantity of good X among the optimum market baskets.
c. change the price of good Y in the consumer choice diagram and observe the change in the quantity of good X among the optimum market baskets.
d. change the consumer's income in the consumer choice diagram and observe the change in the quantity of good X.
a. change the price of good X in the consumer choice diagram and observe the change in the quantity of good X among the optimum market baskets.
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The value of a household's assets minus the value of its liabilities is called
A) wealth. B) income. C) debt. D) stock.
Assume that the central bank purchases government securities in the open market. If the nation has low mobility international capital markets and a flexible exchange rate system, what happens to the quantity of real loanable funds per time period and reserve-related (central bank) transactions in the context of the Three-Sector-Model?
a. The quantity of real loanable funds per time period falls, and reserve-related (central bank) transactions become more negative (or less positive). b. The quantity of real loanable funds per time period falls, and reserve-related (central bank) transactions remain the same. c. The quantity of real loanable funds per time period and reserve-related (central bank) transactions remain the same. d. The quantity of real loanable funds per time period rises, and reserve-related (central bank) transactions remain the same. e. There is not enough information to determine what happens to these two macroeconomic variables.
From an economic perspective, the efforts of professional football, baseball, and basketball players in the United States to win the right to become free agents was really an effort to
A. Reduce the supply of professional players and thus increase wages. B. Raise wages to competitive levels. C. Raise wages above the level of the players' MRP. D. Raise wages to the level of the players' MRP.
Offshoring became a concern in the 1980s when modern communication and transport technology made it possible for firms to relocate production abroad
Indicate whether the statement is true or false