The aggregate supply curve shows the negative relationship between general price level and real GDP
a. True
b. False
Indicate whether the statement is true or false
False
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Which of the following situations describing a resource allocation method most resembles the market price method?
A) Food from the Weld County Food Bank is distributed to families in need. B) Lattes are sold at Starbucks. C) Jose works at Intel. His manager tells him what work needs to be completed each month. D) Matt's mother had the rule that whoever cuts the cake chooses their slice last. E) Seventy percent of Austin's chess club wanted to purchase new chess sets and thirty percent did not. The club purchased the sets.
Suppose you earn annually compounding interest of 10% (per year) on an initial investment of $1,000. Rounded to the nearest 100, what will your balance in 10 years be?
A. $11,000 B. $5,200 C. $2,600 D. $2,000 E. $1,600 F. None of the above
Positive economic statements
A) prescribe what should be. B) are related only to microeconomics. C) can be tested against the facts. D) cannot be tested against the facts.
"Free trade benefits one country at another country's expense." Evaluate this statement using economic analysis