Which of the following is NOT a true statement about U.S. exports?
A) Services have become more important part of exports.
B) The U.S. is the world's second-largest exporter of goods.
C) Three-fourths of U.S. merchandise exports are manufactured goods.
D) The manufacturing sector in the U.S. is no longer significant.
D
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How would the following events affect the market demand for laser printers?
a) A recession in the economy leading to a fall in income levels b) A five-fold increase in the price of printing paper What will be an ideal response?
The marginal rate of substitution is ________, the ________ is the ________
A) greater; flatter; indifference curve B) greater; steeper; budget line C) smaller; steeper; indifference curve D) smaller; flatter; indifference curve
Whenever the absolute value of the price elasticity of demand is greater than 1, but less than infinite
A) demand is inelastic. B) demand is unit elastic. C) demand is elastic. D) demand is perfectly elastic.
If the MPC in an economy is 0.9, the government could shift the aggregate demand curve rightward by $40 billion by
A. increasing government purchases by $4 billion. B. decreasing taxes by $4 billion. C. increasing taxes by $4 billion. D. increasing government purchases by $40 billion.