Figure 10-9
If the economy were operating at point a in , resource prices would tend to
a.
decrease and move the economy toward point c.
b.
decrease and move the economy toward point b.
c.
increase and move the economy toward point c.
d.
increase and move the economy toward point b.
c
You might also like to view...
In the capital and financial account, the largest category of international transactions is
A) statistical discrepancy. B) net transfers. C) net interest. D) exports and imports. E) foreign investment in the United States.
If citizens are not very mobile among governments _____
a. there is no intergovernmental competition b. intergovernmental competition is ineffective c. intergovernmental competition is effective because individuals can compare their government with nearby governments d. the urban sprawl will be lessened
Real wages are equal to
a. Nominal wages minus the inflation rate b. Nominal wage divided by a price index
Nominal GDP is based on prices prevailing when production takes place
Indicate whether the statement is true or false