Aggregate demand is the sum of total domestic spending by the private sector.
Answer the following statement true (T) or false (F)
False
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If the price of domestically produced power tools increases, then
a. the consumer price index and the GDP deflator will both increase. b. the consumer price index will increase, and the GDP deflator will be unaffected. c. the consumer price index will be unaffected, and the GDP deflator will increase. d. the consumer price index and the GDP deflator will both be unaffected.
Which of the following factors will decrease the current demand for a product?
What will be an ideal response?
(Consider This) Darcy and Rachel live down the hall from each other in the same dorm. Darcy likes to play her music loudly down the hall, and Rachel finds the music annoying. A Coase theorem solution for this problem would be for:
A. Darcy and Rachel to negotiate a mutually agreeable level of volume and/or selection of music. B. the director of housing to impose a fine on Darcy whenever she plays her music too loud. C. the dorm government to set a payment schedule by which Rachel would compensate Darcy for making her play her music at a lower volume. D. the college to ban the playing of music in dorms.
In an hour Jane can solder 50 connections or inspect 20 parts while Jim can solder 25 connections or inspect 20 parts in an hour
A) Jane has a comparative advantage over Jim in both soldering and inspecting. B) Jane has a comparative advantage over Jim in soldering while Jim has a comparative advantage in inspecting. C) Jim has a comparative advantage over Jane in soldering while Jane has a comparative advantage in inspecting. D) Jim had a comparative advantage over Jane in both soldering and inspecting.