Anything that reduces resource availability or increases the prices of resources would shift the aggregate supply curve inward to the left

If the export supply curve of tomatoes and the import demand curve of tomatoes of Luxembourg intersect at the international price level of tomatoes, then Luxembourg will suspend trading tomatoes in the international market

a. True b. False Indicate whether the statement is true or false

Microeconomics only looks at the behavior of one consumer or one firm in a market, while macroeconomics looks at the behavior of an entire industry or group of consumers

Indicate whether the statement is true or false