Making international comparisons of purchasing power is:
A. only hard when attempting to figure out the true purchasing power of the poor.
B. complicated by trying to define a "typical" consumer.
C. generally a straightforward comparison.
D. All of these statements are true.
Answer: B
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A price-setting firm prefers to operate in the inelastic portion of its demand curve because total revenue increases when price is increased
Indicate whether the statement is true or false
If there is a decrease in foreign demand for U.S. goods due to a recession in Europe
A) the U.S. aggregate demand will shift right. B) the U.S. aggregate demand will shift left. C) the U.S. aggregate demand will not be affected. D) the U.S. aggregate demand will become steeper.
On the Solow Diagram, an increase in the saving rate is shown by ________
A) an upward shift of the depreciation line B) an upward shift of the investment function C) an upward shift of the per-worker production function D) a downward shift of the investment function
Shortage
What will be an ideal response?