The demand curve is the upward-sloping line relating price and quantity demanded
a. True
b. False
Indicate whether the statement is true or false
False
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The ________ the marginal propensity to import, the ________ the multiplier
A) larger; more negative B) larger; smaller C) smaller; smaller D) larger; larger E) None of the above is correct, because the expenditure multiplier is not related to the marginal propensity to import.
Refer to Figure 14.1. Other things equal, an increase in the inflation rate is best represented as a movement from
A) point A to point B. B) point C to point A. C) point C to point B. D) point B to point C.
In terms of the world as a whole, imports must equal exports because
A. Most countries, other than the United States, have a balanced trade situation. B. The United Nations requires it. C. Every good exported by one country becomes an import for another country. D. It is part of international law.
In the United States, natural monopolies
A. are easily converted to competitive industries. B. are common in retailing. C. are commonly regulated by governments. D. are rarely regulated by governments.