Which of the following would help reduce our trade deficit?
A. Reduce our trade deficit with China
B. Lower our dependence on oil imports
C. Reduce our consumption habits
D. All of the choices would help reduce our trade deficit.
D. All of the choices would help reduce our trade deficit.
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The above figures show the market for oranges. Which figure(s) shows the effect of a nation-wide consumer boycott of eating oranges?
A) Figure B B) Figure C C) Figures B and C D) Figures A and D
Price discrimination, where different units of a good are sold for different prices
A) is impossible because there can only be one market price. B) can be effectively practiced by all monopolists. C) maximizes consumer welfare because each consumer pays only the price he or she is willing to pay. D) is possible if the good cannot be resold.
When potential GDP increases, _______
A. aggregate demand increases B. aggregate supply increases C. both aggregate demand and aggregate supply increase D. the price level rises
Which of the following statements is(are) correct
a. As a result of the Great Depression of the 1930s, the quantity theory had come into disrepute, together with the rest of the classical theories. b. According to Friedman, the depression was caused by a fall in aggregate supply and not aggregate demand as believed by the Keynesians. c. As a result of the Great Depression of the 1930s, Friedman believed that the Keynesians had nothing to say about money demand. d. All of the above e. both b and c.