The use of goods and services for personal satisfaction is known as
A) the law of increasing relative cost.
B) specialization.
C) comparative advantage.
D) consumption.
D
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The best way to ensure that the sales agents are working in the firm's best interests is to
a. Tell the agent what he should be doing b. Provide the agent an incentive to work in your best interest c. Force the agent to work in your best interest d. Fire the agent
Two goods are considered substitutes only if a(n):
a. decrease in the demand for one leads to a decrease in the supply of the other. b. increase in the demand for one leads to a decrease in the supply of the other. c. increase in the price of one leads to an increase in the demand for the other. d. decrease in the price of one leads to an increase in the demand for the other. e. decrease in the supply of one leads producers to switch to production of the other.
An expenditure schedule shows the relationship between GDP and total output
a. True b. False Indicate whether the statement is true or false
A currency depreciation would _____ net exports, and therefore ___________ aggregate demand.
A. increase; increase B. increase; decrease C. decrease; decrease D. None of the above is correct.