Define the term "import."
What will be an ideal response?
An import is a product produced in a foreign country and purchased by residents of the home country.
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If the aggregate supply curve is upward sloping, then an increase in autonomous consumption leads to a(n)
A) increase in aggregate demand and a rise in the price level. B) decrease in aggregate demand and a rise in the price level. C) decrease in aggregate demand and a fall in the price level. D) no change in aggregate demand and no change in the price level.
Unemployment compensation payments:
a. fall during periods of prosperity and thus reduce federal budget deficits. b. fall during periods of prosperity and thus increase federal budget deficits. c. fall during recessions and thus increase the problem of unemployment. d. rise during periods of prosperity and thus increase federal budget deficits. e. rise during recessions and thus increase the problem of unemployment.