Which of the following is not a component of the aggregate demand curve?
a. Consumption (C).
b. Investment (I).
c. Government spending (G).
d. Net exports (X-M).
e. All of these are components.
e
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Since the 1970s, unemployment rates in the United States have generally been
A. lower than in Europe. B. higher than in Europe. C. about the same as in Europe. D. not compared to Europe, since unemployment is not present in Europe.
Which of the following statements is TRUE?
A) A firm cannot increase quantity demand for labor when the wage rate falls without causing the product price to decline. B) A movement along the market demand curve for labor does not require a change in the product price. C) A firm can increase quantity demanded for labor when the wage rate falls without affecting the product price but the industry cannot hire more workers without causing the product price to fall. D) Both a firm and the industry can move down their demand curves for labor without causing product price to change.
How will a cut in a fixed tax affect the consumption schedule?
a. It will shift downward. b. It will shift upward. c. It will become flatter. d. It will become steeper.
If a t-shirt manufacturer supplies 1,000 t-shirts per week when the price of t-shirts is $10 and supplies 1,200 t-shirts per week when the price of t-shirts is $12, the price elasticity of supply is 2
a. True b. False Indicate whether the statement is true or false