In the graph showing an increase in aggregate demand, if aggregate demand moves from point A to point B, ______.
a. aggregate demand will weaken
b. price levels remain unchanged
c. RGDP increases by $1 trillion
d. unemployment increases by 3 percent
c. RGDP increases by $1 trillion
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Refer to the table above. Laborland has a(n) ________ advantage in ________ shoes
A) comparative; stitching B) absolute; designing C) absolute; stitching D) comparative; both designing and stitching
According to Figure 5.1, the real interest rate is relatively low in ________
A) Brazil B) Turkey C) Argentina D) Japan E) Indonesia
One of the ugly stepsisters argues that she, rather than Cinderella, should go to the ball because she will derive more utility from it than Cinderella. An economist would: a. agree, since the ugly stepsister's reasoning is sound
b. want to know how much utility each will receive from attending the ball in order to determine which woman should attend. c. point out that making interpersonal utility comparisons is not possible. d. ask how many balls each woman has attended in order to calculate the marginal utility that each would derive from attending, and then decide who should go to the ball.
Globalization that allows governments to pursue expansionary policies can be dangerous because it can lead to:
A. asset price inflation. B. goods price deflation. C. a reduction in the debt ceiling. D. goods price inflation.