The crowding-out effect in an open economy ______.
a. is unaffected by global interactions
b. is weaker than in a closed economy
c. is stronger than in a closed economy
d. is prevented by diplomatic regulations
c. is stronger than in a closed economy
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In 2010, Acme Foods produced 300,000 bags of pretzels, employing 12,000 hours of labor. In 2011, it produced 322,000 bags of pretzels, employing 14,000 hours of labor. Acme Foods productivity
a. decreased by 8%. b. was unchanged. c. increased by 6.8%. d. increased by 7.3%.
A fall in the price of a good causes an increase in its:
A. quantity demanded. B. demand. C. quantity supplied. D. supply.
Referring to the Economics in Practice on page 320: A successful celebrity endorsement of a product will most likely ________ for the product, resulting in a higher equilibrium price and a larger equilibrium quantity.
A. increase the supply B. decrease the demand C. decrease the supply D. increase the demand
Some of the most renowned examples of hyperinflation occurred in Austria, Hungary, Germany and Poland shortly after
A) the collapse of the Austro-Hungarian Empire. B) World War I. C) World War II. D) the fall of the Berlin Wall.