An increase in price could occur due to a(n)
a. Increase in demand and no change in supply
b. Decrease in supply and no change in demand
c. An increase in demand and decrease in supply
d. All of the above
d
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At the equilibrium level of real GDP, which of the following is true?
a. Unplanned inventory investment is positive. b. Unplanned inventory investment is negative. c. Aggregate output equals aggregate expenditures. d. Aggregate output plus consumption spending equals aggregate expenditures.
Which person has the highest opportunity cost of obtaining a college degree (assuming that attending college requires giving up his or her current position)?
A. Bill, who is unemployed. B. Jane, who is an unwed mother and earns $15,000 a year. C. Larry, who is a technician in the navy earning $18,000 a year with free food and housing. D. Mary, who has a job earning $60,000 a year as a computer programmer. E. Unable to determine from the data given.
In contrast with nominal values, real values refer to nominal values
What will be an ideal response?
Portugal has an absolute advantage in which product?
