GDP could be calculated over:
A. a month.
B. a quarter.
C. a year.
D. any time period.
D. any time period.
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According to the law of demand, if the price of a netbook decreases, ceteris paribus, the demand for netbooks would increase
a. True b. False Indicate whether the statement is true or false
The real business cycle theory holds that the business cycle
A) originates as a result of factors affecting aggregate supply. B) originates as a result of factors affecting aggregate demand. C) is the result of correctly anticipated policies. D) is the result of incorrectly anticipated policies.
Which of the following sequences would cause the labor shortage shown in this graph?
a. WMIN goes higher than WE, thereby decreasing QD and increasing QS.
b. WMIN goes lower than WE, thereby decreasing QD and increasing QS.
c. WMIN goes higher than WE, thereby increasing QD and decreasing QS.
d. WMIN goes lower than WE, thereby increasing QD and decreasing QS.
If the market for a good consists of a downward sloping demand curve and a vertical supply curve, sellers will have to pay the whole amount of a newly imposed tax.
Answer the following statement true (T) or false (F)