Suppose the economy was initially in a long-run equilibrium. Then the world economy expands so that foreign incomes rise. U.S. aggregate demand ________ and eventually the money wage rate ________.
What will be an ideal response?
increases; rises
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Mergers between companies that previously existed in a supplier-buyer relationship are called
A) conglomerate mergers. B) diagonal mergers. C) horizontal mergers. D) vertical mergers.
Supply curves are usually assumed to slope upward because
a. profits fall as prices rise b. a higher price leads to increases in demand c. a higher price leads to decreases in demand d. a higher price attracts resources from other less valued uses e. firms drop out of the market as prices rise
Which of the following is currently the primary source of funding for R&D?
a. Private industry b. Universities and colleges c. Nonprofit organizations d. Federal government
Which of the following government aid programs exists to provide medical insurance to certain low-income people, including those living below the poverty line?
a. Medicare b. Social Security c. Medicaid d. Supplemental Security Income