In the aggregate expenditures model, if aggregate expenditures (AE) are greater than GDP, then:
a. inventory is depleted.
b. inventory is accumulated.
c. inventory is unchanged.
d. employment decreases.
a
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If consumer tastes for electric cars increase over the next 10 years, we will see an increase in the demand for electric cars, higher electric car prices, and an increase in the equilibrium quantity of electric cars.
a. true b. false
Indians and Indian-Americans have played a pivotal role in powering Silicon Valley's digital revolution. The emigration of talented people from countries like India to countries like the United States is often called:
A. credentialism. B. the brain drain. C. Malthusianism. D. outsourcing.
Refer to Figure 28.2. Assume this firm initially has marginal costs equal to Private MC1 and is polluting. If the government decides to use emission charges to reduce pollution, the firm's MC curve will shift to
A. MC3 and the rate of output will increase. B. MC2 and the rate of output will decrease. C. MC2 and the rate of output will increase. D. MC3 and the rate of output will decrease.
Every person's and, ultimately, every economy's standard of living depends on the effective use of resources.
Indicate whether the statement is true or false. A. True B. False