Every wealthy society the world has ever known is characterized by
What will be an ideal response?
extensive specialization or division of labor.
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A rightward shift of the supply curve will lead to a(n)
A) decrease in equilibrium price. B) excess supply at the old equilibrium price. C) increase in quantity demanded. D) All of the above.
Describe the three types of unemployment?
What will be an ideal response?
Assume a price floor is set above the equilibrium price. The result is a shortage
a. True b. False Indicate whether the statement is true or false
Assume that the central bank increases the reserve requirement. If the nation has low mobility international capital markets and a flexible exchange rate system, what happens to the real risk-free interest rate and current international transactions in the context of the Three-Sector-Model?
a. The real risk-free interest rate falls, and current international transactions become more negative (or less positive). b. The real risk-free interest rate rises, and current international transactions become more negative (or less positive). c. The real risk-free interest rate and current international transactions remain the same. d. The real risk-free interest rate rises, and current international transactions remains the same. e. There is not enough information to determine what happens to these two macroeconomic variables.