According to the law of demand, as prices rise, ceteris paribus
A. demand increases.
B. demand decreases.
C. quantity demanded increases.
D. quantity demanded decreases.
Answer: D
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From 1970 to 1984, the productivity of the Lockeed Company increased as the company produced more airplanes. According to the text, Lockeed's experience can best be described as:
A. increasing returns to scale. B. technological change. C. learning-by-doing. D. increasing marginal returns.
Contractionary fiscal
What will be an ideal response?
In the 1980s, the U.S. government budget deficit rose. At the same time the U.S. trade deficit grew larger, the real exchange rate of the dollar appreciated, and U.S. net capital outflow decreased. Which of these events is contrary to what the open-economy macroeconomic model predicts concerning the effects of an increase in the budget deficit?
a. the U.S. trade deficit grew b. the real exchange rate of the dollar appreciated c. U.S. net capital outflow fell d. None of the above is contrary to the predictions of the model.
As a real estate agent, Krista Otavi prides herself on her good training, availability to clients, and hard work to make a sale. Which one of the basic ways of product differentiation does Krista emphasize?
a. services b. product image c. location d. commission rate e. physical differences