The demand for land is upward sloping.
Answer the following statement true (T) or false (F)
False
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A country reports that its actual real GDP is greater than its potential GDP. It must be that
A) more workers decided to quit work in order to enjoy leisure time. B) the excess by which real GDP exceeds potential GDP is only temporary, and eventually real GDP will decrease to be equal to potential GDP. C) the price level is increasing. D) an error was made when calculating actual real GDP. E) None of the above answers is correct because it is impossible for a country's real GDP to exceed its potential GDP.
According to the AS-AD model, when real GDP is less than potential GDP, the unemployment rate is definitely
A) equal to the natural unemployment rate. B) rising. C) falling. D) greater than the natural unemployment rate. E) less than the natural unemployment rate.
The cranberry market is perfectly competitive. Reports that consuming cranberries can lead to improved health result in a permanent increase in the demand for cranberries and an immediate upward jump in the price of cranberries
As time passes, the price of cranberries ________ and the initial firms' economic ________. A) falls; profit will be eliminated B) rises still higher; loss will be eliminated C) rises still higher; profit will not change D) falls; loss will be increased E) falls; profit will not change
Fighting alongside the British in the Revolution, the ___________ lost much of their land and position in America after the War
a. Iroquois b. French c. Mexicans d. Sioux