Of the following examples, expenditures on ______ will most likely remain stable when the GDP drops.
a. tables
b. shirts
c. figurines
d. sports cars
b. shirts
You might also like to view...
A decrease in the nominal exchange rate, e, defined as the number of units of the foreign currency that one unit of the domestic currency will buy, indicates that the domestic currency has ________ relative to the foreign currency.
A. become undervalued B. become overvalued C. depreciated D. appreciated
According to the World Bank, nearly 40 percent of the people on earth subsist on incomes of less than $3 per day.
Answer the following statement true (T) or false (F)
Suppose that consumers expect the price of a product to decrease in the future. The result is that:
A. the current demand for the product increases. B. the current demand for the product decreases. C. the current supply of the product increases. D. the current supply of the product decreases.
A contraction is associated with a negative rate of growth of the economy.
Answer the following statement true (T) or false (F)