Booms and recessions are transmitted to other countries
a. True
b. False
Indicate whether the statement is true or false
True
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The increase in the average unemployment rate in the 1970s was the result of
A) higher real wage rates. B) an increase in the birth rate in the early 1970s. C) repeated increases in the minimum wage. D) an increase in the birth rate in the late 1940s and early 1950s. E) the reduction of overly generous unemployment benefits in the 1970s.
Rationing occurs for goods
A. that are not manufactured. B. that have a negative price. C. that have a zero price. D. that have a positive price.
Wealthy people will tend to have vertical labor supply curves
A) only if their income effect just offsets their substitution effect. B) only if their income effect is greater than their substitution effect. C) only if their income effect is less than their substitution effect. D) only if they don't have an income effect.
If technological change increases the profitability of new investments for firms, then the ________ curve for loanable funds will shift to the ________
A) supply; right B) supply; left C) demand; right D) demand; left