A decrease in the price level will result in:
a. a downward shift of the AD curve.
b. an upward shift of the AD curve.
c. a movement up the AD curve.
d. a steeper slope of the AD curve.
e. a movement down the AD curve.
e
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The value of U.S. imports is ________.
A. added to exports when calculating GDP, because imports reflect spending by Americans B. subtracted from exports when calculating GDP, because imports do not constitute production in the United States C. subtracted from exports when calculating GDP, because imports do not constitute spending by Americans D. added when calculating GDP, because imports do not constitute production in the United States
The law of demand implies, holding everything else constant, that as the price of bagels increases
A) the demand for bagels will decrease. B) the demand for bagels will increase. C) the quantity of bagels demanded will increase. D) the quantity of bagels demanded will decrease.
What are the five main economic goals of the United States?
What will be an ideal response?
If elasticity of demand is 1 and elasticity of supply is 0, what percentage of a 10 percent tax will be borne by consumers?
A. 10 percent. B. 50 percent. C. 0 percent. D. 100 percent.