One of the main production advantages of the steam engine was the flexibility of its location
Indicate whether the statement is true or false
True
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A decrease in disposable income will shift the aggregate demand curve to the left
Indicate whether the statement is true or false
In a classic paper, Columbia University economist Phillip Cagan drew the line between inflation and hyperinflation at an inflation rate of
A) 50 percent per month. B) 10 percent per month. C) 20 percent per month. D) 5 percent per month. E) 25 percent per month.
The Island Republic is a small, tropical nation with rich agricultural land and a warm climate. Which products might it export at a lower opportunity cost than would a larger country in a cooler climate?
a. cars and trucks b. pineapples and flowers c. insurance and banking d. cotton and lumber
An increase in supply is caused by:
A) an increase in resource prices. B) suppliers' expectations of higher prices in the future. C) an increase in the price of a good using the same resources. D) a decrease in the price of a good using the same resources.