Which is best considered a demand factor in economic growth?
A. The quality of human resources.
B. The level of spending by households, business, and government.
C. The quantity of natural resources.
D. The quantity of human resources.
Answer: B
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If firms maintain preset prices in the short run, then the primary cause of output gaps is changes in:
A. potential output. B. economy-wide spending. C. prices. D. capital and technology.
If the market clearing price of computer tablets falls from $400 to $300, and the market clearing output decreases from 5 million to 4 million units,
A) demand decreased and supply remained unchanged. B) supply increased and demand remained unchanged. C) demand increased and supply remained unchanged. D) supply decreased and demand remained unchanged.
The yen is considered to be stronger if:
A) it takes fewer yen to acquire a foreign currency such as a dollar B) it takes more yen to acquire a foreign currency such as a dollar C) it takes fewer dollars to acquire a yen D) it takes fewer dollars and fewer euros to acquire a yen
Which of the following would not cause the demand curve for peaches to shift?
a. an increase in the price of apricots b. a decrease in the price of nectarines c. an increase in the price of peaches d. a change in preferences for peaches e. a decrease in the income of peach buyers