A decrease in the price of a complement in production leads to
A) no change in the supply of the good in question.
B) an increase in the supply of the good in question.
C) a decrease in the supply of the good in question.
D) a decrease in the quantity supplied of the good in question.
E) an increase in the supply of the good in question and a decrease in the quantity supplied of the good in question.
C
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Refer to the scenario above. Which of the following statements is true about the model?
A) The model is not based on any assumption. B) The predictions of the model will hold for every individual. C) The model describes the economic payoff of more education. D) The model can be applied for maximum 10 years of additional education.
If a country removed an import quota on cotton, then overall that country's
a. exports and imports would rise. b. exports would rise and imports would fall. c. exports would fall and imports would rise. d. exports and imports would fall.
In the long run, a decrease in the money supply growth rate
a. shifts the short-run Phillips curve left so inflation returns to its original rate. b. shifts the short-run Phillips curve left so unemployment returns to its natural rate. c. Both A and B are correct. d. None of the above is correct.
In contrast with nominal GDP, real GDP refers to nominal GDP
What will be an ideal response?