When the price level falls
A) imports increase, and exports decrease, which causes a movement up along the aggregate demand curve.
B) there is no impact on imports or exports, so there is no associated movement along the aggregate demand curve.
C) imports decrease and exports increase, which cause a movement down along the aggregate demand curve.
D) imports decrease and exports increase, which cause a movement up along the aggregate demand curve.
C
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Which of the following are TRUE regarding the argument that trade barriers protect U.S. workers from cheap foreign labor? I. Low-wage foreigners are just as productive as U.S. workers. II. U.S. workers have a comparative advantage in low-wage jobs
A) I only B) II only C) I and II D) Neither I nor II is correct.
All of the following are examples of fixed costs, except
a. Tax accountant fees b. Package designing fees c. Insurance d. Shipping costs
Human capital is the amount of
a. capital available to workforce. b. skill embodied in the workforce. c. output the labor force can produce. d. healthy work force in the total population.
Suppose that nominal GDP in 2018 was less than real GDP in 2018. Given this information, we know for certain that
A) the price level in 2016 was greater than the price level in the base year. B) the price level in 2016 was less than the price level in the base year. C) real GDP in 2016 was less than real GDP in the base year. D) real GDP in 2016 was greater than real GDP in the base year.