When Abel Steel Manufacturing purchased three new furnaces for $8.5 million, the value of gross private domestic investment rose by $8.5 million
Indicate whether the statement is true or false
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According to this Application, workers in the EU were more productive than workers in Latvia in the 1990s, yet despite this, EU nations chose to trade with Latvia. Engaging in trade with Latvia allowed ________ to become more productive
A) workers in Latvia but not workers in the EU B) neither workers in the EU nor in Latvia C) workers in the EU but not workers in Latvia D) workers in both the EU and in Latvia
A marginal propensity to save of 0.20 results in a multiplier of
A) 2. B) 5. C) 1.25. D) 8. E) 1.
Which of the following is an example of the law of demand?
A. A decrease in the price of tea is followed by a decrease in tea purchases. B. An increase in the price of tea has no effect on the amount of tea purchased. C. A decrease in the price of tea is followed by an increase in tea purchases. D. The amount of tea purchased increases when the price is constant.
If the budget line rotates, then we know that
A. the consumer was not maximizing their utility. B. their has been a change in the consumer's tastes. C. income has changed. D. the price of one of the goods had changed.