Answer the following questions true (T) or false (F)
1. An increase in exports decreases aggregate demand.
2. An increase in disposable income will shift the aggregate demand curve to the right.
3. An increase in the price level causes a movement down the aggregate demand curve.
1. FALSE
2. TRUE
3. FALSE
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If the Fed increases the quantity of reserves, a new equilibrium is reached by a
A) leftward shift of the demand for reserves curve. B) movement down the demand for reserves curve. C) movement up the demand for reserves curve. D) rightward shift of the demand for reserves curve. E) None of the above answers is correct.
An "endowment" is something whose value is unknown. ?
Answer the following statement true (T) or false (F)
Describe how a speculator can improve social welfare when he correctly anticipates that future demand will be higher than suppliers expect.
What will be an ideal response?
The following table provides information about production at the XYZ-TV Company. Number of WorkersTVs ProducedMarginal ProductValue of Marginal Product00------13535$35,00026833$33,00039931$31,000412829$29,000515527$27,000How many workers will XYZ-TV Company hire if the going wage for TV production workers is $60,000?
A. 0 B. More than 5 C. 4 D. 5