What will happen to the demand curve for tea workers if the price of tea increases, assuming all else equal?
A) There will be an upward movement along the demand curve for tea workers.
B) There will be a leftward shift in the demand curve for tea workers.
C) There will be a downward movement along the demand curve for tea workers.
D) There will be a rightward shift in the demand curve for tea workers.
D
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Interest rates in the economy have fallen. How will this affect aggregate demand and equilibrium in the short run?
A) Aggregate demand will fall, the equilibrium price level will rise, and the equilibrium level of GDP will fall. B) Aggregate demand will fall, the equilibrium price level will fall, and the equilibrium level of GDP will fall. C) Aggregate demand will rise, the equilibrium price level will fall, and the equilibrium level of GDP will rise. D) Aggregate demand will rise, the equilibrium price level will rise, and the equilibrium level of GDP will rise.
GDP is most often discussed using _______ figures, although it is typically calculated _______.
A. annual; quarterly B. annual; monthly C. quarterly; monthly D. quarterly; annually
If a firm in a perfectly competitive market raises its price
A) it will sell more products. B) it will sell fewer products. C) its sales will remain unchanged. D) it will sell nothing.
In order to avoid the imposition of other types of trade barriers, foreign producers will sometimes agree to limit their exports to a country. What are these types of agreements called?
A) involuntary export restraints B) voluntary export restraints C) implicit quotas D) sanctions