The price of services at St.Elsewhere falls by 10 percent. What happens to the quantity of services demanded at Urban General?
a. Quantity demanded rises by 35.0 percent.
b. Quantity demanded falls by 3.5 percent.
c. Quantity demanded falls by 1.5 percent.
d. Quantity demanded rises by 5.0 percent.
e. Quantity demanded stays the same.
B
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The difference between an orthodox stabilization plan and a heterodox stabilization plan is that the orthodox plan
A) targets the problem of inflation, while the heterodox plan targets unemployment. B) reduces trade flows less than the heterodox plan. C) does not include higher taxes and the heterodox plan does. D) does not include wage and price controls and the heterodox plan does. E) eliminates budget deficits, while the heterodox plan only reduces them.
If consumption equals 10, investment equals 8, government purchases equal 7, exports equal 5 and imports equal 3, what is the GDP?
a. 11 b. 13 c. 25 d. 27
During an economic boom, actual output exceeds potential output.
Answer the following statement true (T) or false (F)
If the United States has reason to believe that the trade policies of another country violates the GATT, then to which organization do they send their complaint to?
A. the World Trade Organization (WTO) B. the International Monetary Fund (IMF) C. the United Nations (UN) D. the World Bank (WB)