The aggregate demand curve is downward sloping because:
a. buyers tend to purchase more of all goods and services as the opportunity costs of producing those goods increase.
b. buyers tend to purchase more of all goods and services as price levels decrease
c. buyers tend to purchase those goods that have a unit elasticity.
d. buyers tend to purchase more of inferior goods as price levels increase.
b
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Since the marginal product of labor can increase initially as I hire more workers, demand for labor is also upward sloping for the initial workers I hire.
Answer the following statement true (T) or false (F)
Mutual funds that invest only in companies that meet certain criteria and usually exclude companies that produce tobacco, weapons, or alcoholic beverages are known as:
a. socially responsible funds. b. global funds. c. equity funds. d. fixed-income funds. e. money market funds.
The export supply curve is the portion of the domestic supply curve below the no-trade equilibrium price
a. True b. False Indicate whether the statement is true or false
Additional investments in machines that enhance the ability to produce goods and services imply that
a. the owners of the investments will necessarily have to borrow funds. b. the owners of the investments will necessarily have to reduce their current consumption. c. someone will have to reduce current consumption. d. future consumption will have to be reduced.