If the U.S. dollar increases in value relative to other currencies, how does this affect the aggregate demand curve?
A) This will shift the aggregate demand curve to the right.
B) This will move the economy down along a stationary aggregate demand curve.
C) This will move the economy up along a stationary aggregate demand curve.
D) This will shift the aggregate demand curve to the left.
D
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Normative conclusions
a. come from positive analysis alone. b. are based on ignorance of positive analysis. c. involve value judgments. d. reflect the economist's role as scientist.
Which of the following decreases in labor demand is due to a change in the price of a related resource?
A. The rise of hair salons for both men and women reduces the demand for barbers. B. A decline in the demand for computers in Europe reduces the demand for workers in the domestic computer industry. C. An increase in the price of chemical equipment increases the cost of producing fertilizer, thus decreasing the demand for workers who make fertilizer. D. A decrease in the educational skills of manufacturing workers decreases the demand for such workers.
In short-run equilibrium in a perfectly competitive market,
a. each firm earns an economic profit b. each firm earns a normal profit c. firms shut down if price exceeds average total cost d. each firm takes consumers' marginal utility as given e. peach firm takes the market price as given
Which of the following decreases if the U.S. removes an import quota on computer components?
a. U.S. imports and U.S. exports. b. U.S. imports but not U.S. exports. c. U.S. exports but not U.S. imports. d. Neither U.S. exports nor U.S. imports.