Suppose that nominal interest rates double. As a result, the quantity of money doubles as well
Indicate whether the statement is true or false
FALSE
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The effect of a recession on a company like Whirlpool Corporation is such that
A) the decline in sales is more short-lived as compared to firms that do not produce durable goods. B) profits fall less sharply as compared to firms that do not produce durable goods. C) there is no difference in the impact of the recession on its profits as compared to firms that do not produce durable goods. D) sales decline more sharply for Whirlpool as compared to firms that do not produce durable goods.
An increase in the expected future price of a good will cause the current demand for the good to:
a. decrease, which is a shift to the left of the demand curve. b. decrease, which is a shift to the right of the demand curve. c. increase, which is a shift to the left of the demand curve. d. increase, which is a shift to the right of the demand curve.
Statistical correlation always implies causation.
Answer the following statement true (T) or false (F)
Refer to the accompanying figure. If Pat and Chris each spend half their time on each task, then:
A. the outcome will be efficient. B. they will plant fewer bulbs and remove fewer bags of trash than if they each had specialized in the task at which they have a comparative advantage. C. they will plant more bulbs and remove fewer bags of trash than if they had each specialized in the task at which they have a comparative advantage. D. the outcome will be unattainable.