Demand for a resource is a ___________ demand.
Fill in the blank(s) with the appropriate word(s).
derived
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Technological change that increases the marginal productivity of labor in the classical model would cause
a. labor demand, output and the price level to rise. b. labor demand to fall, the price level to fall, and output to rise. d. labor demand, output and employment to rise. c. output to rise but labor demand to fall.
Refer to the information for this hypothetical economy provided in Table 20.1 below to answer the question(s) that follow.Table 20.1 2014 2015 2016QuarterIIIIIIIVIIIIIIIVIIIIIIIVOutput9094981029691888487949087Refer to Table 20.1. Which of the following quarters can be associated with inflation?
A. the second quarter of the year 2016 B. the second quarter of the year 2014 C. the first quarter of the year 2016 D. all of the above
Initially trade between the United States and Canada is balanced. Then, if a change in the exchange rate reduces the U.S. dollar price of Canadian goods, ceteris paribus, we would expect
A. a trade surplus in Canada. B. a trade surplus in the United States. C. a trade deficit in Canada. D. a trade deficit in both countries.
The relative price of a country's goods and services in terms of foreign goods and services is the real exchange rate
Indicate whether the statement is true or false