In an open economy, how many bikes will this country export?
A. 80,000
B. 60,000
C. 50,000
D. 20,000
Answer: B
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Why does unemployment not go to zero during booms?
What will be an ideal response?
If the marginal product of labor is decreasing, then marginal cost of production must be rising
Indicate whether the statement is true or false
According to the classical system, saving is a function of
a. income. b. the real interest rate. c. the real wage. d. the profitability of firms. e. all of the above.
At a price of $15 each, Marta buys 4 books per month. When the price increases to $20, Marta buys 3 books per month. Luz says that Marta's demand for books has decreased. Is Luz correct?
A) Yes, Luz is correct. B) No, Luz is incorrect. Marta's demand has increased. C) No, Luz is incorrect. Marta's quantity demanded has decreased, but her demand has stayed the same. D) No, Luz is incorrect. Marta's quantity demanded has increased, but her demand has stayed the same. E) No, Luz is incorrect. Marta's quantity demanded has decreased and her demand has increased.