The majority of new jobs created in the service sector of the U.S. economy have been in the information sector.
Answer the following statement true (T) or false (F)
True
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Suppose the price of cement goes up in the United States. What happens in the market for new homes?
A) Supply shifts upward and to the left. B) Demand shifts left. C) Supply shifts downward and to the right. D) Demand shifts to the right.
The equilibrium quantity of labor decreases and the equilibrium wage increases when:
a. labor supply shifts to the left, if wages are flexible. b. labor demand shifts to the left, if wages are flexible. c. labor demand shifts to the right, if wages are flexible. d. labor supply shifts to the right, if wages are flexible.
If the market demand for a good is analyzed for a short period of time, its price elasticity of demand will be: a. inelastic
b. elastic. c. infinitely elastic. d. equal to zero.
President Trump has proposed lowering income taxes for individuals. Explain how lower income taxes affect the aggregate demand curve
What will be an ideal response?