Since 1970, the U.S. economy has experienced ________ recession(s).
A. 2
B. 3
C. 5
D. 6
Answer: C
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Consumers expect that the price of a gallon of gasoline will rise next week. As a result
A) today's supply of gasoline increases. B) today's demand for gasoline increases. C) the price of a gallon of gasoline falls today. D) next week's supply of gasoline decreases.
When a nation exports a good or service in which it has a comparative advantage, production of the good or service
A) decreases. B) stays the same. C) increases. D) might change, but more information about what the country imports is needed to determine if production increases, decreases, or does not change. E) might change, but more information about what else the country exports is needed to determine if production increases, decreases, or does not change.
Which of the following is likely to cause a fall in the wage rate and an increase in the number of workers hired in a local cotton mill?
A) A reduction in wage paid in a nearby jute mill B) The introduction of labor-saving technology in the mill C) The introduction of labor-complementary technology in the mill D) A decrease in the population of the region in which the cotton mill is located
A net increase in inventories is considered as investment for the current year
a. True b. False Indicate whether the statement is true or false