Most Mexican workers can increase their wages if they migrate to the United States, a demand-pull factor for migration
Indicate whether the statement is true or false
TRUE
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A specific investment is
A) one that can only be used in a transaction with a single firm. B) an investment that cannot be physically moved, such as an oil refinery. C) reduces the possibility of a holdup occurring. D) is more expensive than a general investment.
A recessionary gap
a. is of little consequence in a capitalist economy b. represents actual physical output lost c. implies an equilibrium level of national income at less than full employment d. is associated with rising price levels e. will automatically close, according to Keynes
How are the law of demand and the law of diminishing marginal utility related?
a. The law of diminishing marginal utility explains the law of demand. b. The law of demand explains the law of diminishing marginal utility. c. The law of demand contradicts the law of diminishing marginal utility. d. The law of diminishing marginal utility contradicts the law of demand.
If an increase in the Z factors resulted in a very large change in the price level and a very small change in aggregate output
A. then the U.S. economy must have been on the very flat part of its short-run aggregate supply curve. B. then the U.S. aggregate demand curve must be very steep. C. then in the U.S. economy investment demand must not be sensitive to the interest rate. D. then the U.S. economy must have been on the very steep part of its short-run aggregate supply curve.