If cream cheese and bagels are complements, then an increase in the price of cream cheese will __________ the demand for bagels.
a) increase
b) not change
c) increase or decrease
d) decrease
d) decrease
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Based on the information in Scenario 1, real GDP grew by about ________ percent from 2015 to 2016
A) 23 B) 31 C) 62 D) 162
The adult population of a country is 60 million. Of these adults, 20 million are employed and 30 million are unemployed. Therefore, the labor force of the country is _____
a. 40 million b. 30 million c. 50 million d. 60 million
Under a floating exchange-rate regime, the domestic currency will normally depreciate if the money supply
A. contracts. B. is managed to keep the country's inflation rate steady. C. expands. D. does not change with the change in the exchange rates.
Which of the following is FALSE?
A) The analysis of agriculture, textiles, and clothing in the EU, the United States, and Japan supports the proposition that older sectors of the economy are most protected, particularly in cases where the nation has lost a substantial part of its comparative advantage. B) Even when tariffs are relatively low, the cost per job saved tends to be high. C) Commercial policy is grossly inefficient at achieving the objective of job preservation. D) Trade barriers in high-income countries do not cause unintended consequences in low-income countries because most of their trade is with other industrialized countries.