In July, market analysts predict that the price of gold will rise in August. What happens in the gold market in July, holding everything else constant?
A) The supply curve shifts to the right.
B) The supply curve shifts to the left.
C) The quantity demanded and the quantity supplied increase.
D) The demand curve shifts to the left.
Answer: B
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Comparison of the European and U.S. labor markets suggests that
A) it is relatively cheap to hire workers in the United States. B) the U.S. labor market is more "flexible" than the European labor market. C) job security and income equality are greater in the European labor market. D) A and B. E) all of the above.
A firm purchases $600,000 worth of raw materials and pays wages and salaries of $100,000 and dividends of $200,000 . If the firm sells its output for $1 million, the firm's value added to GDP is
a. $300,000. b. $400,000. c. $900,000. d. $1,000,000.
Technological improvement always enhances the productivity of resources, and results in an increase in demand for other resources
Indicate whether the statement is true or false
One difficulty of computing the value of GDP is that there are no market prices for
A. exports and imports. B. business investments. C. government goods and services. D. resource values.