A change in the price of hamburgers will change the supply of hot dogs
a. True
b. False
Indicate whether the statement is true or false
False
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A country has a government sector deficit and a private sector surplus. If the government sector deficit increases, and the private sector surplus decreases, then ________
A) net exports decrease or remain constant B) net exports increase C) net exports increase, decrease, or remain constant D) net exports decrease
The figure above shows the cost, demand, and marginal revenue curves for a monopoly. At an output level of ________, demand is ________
A) 20; elastic B) 50; unit elastic C) 50; elastic D) 30; unit elastic
In the real world, the K/Y ratio
A) is much higher in rich countries than in poor countries. B) is much lower in rich countries than in poor countries. C) is roughly equal across rich and poor countries. D) cannot be properly compared except between countries of similar income levels.
In response to the severe recession of 2008-2009, the Fed
a. expanded the monetary base and pushed short-term interest rates sharply higher. b. reduced the size of the monetary base and pushed short-term interest rates sharply higher. c. more than doubled the size of the monetary base and pushed short-term interest rates to near zero. d. more than doubled the size of the monetary base and pushed short-term interest rates to a historic high.