If a freeze destroys much of the crop of an agricultural nation, then
A) the desired investment curve would shift to the left.
B) the desired investment curve would shift to the right.
C) net foreign lending would increase.
D) net foreign lending would decrease.
D
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Pedro buys market basket A that includes 10 books at a price of $20 per book and 10 DVDs at a price of $10 per DVD. Market basket B contains 12 books and 12 DVDs. Based on this information, which of the following statements is NOT true?
A) Revealed preference analysis implies that Pedro only prefers basket B to basket A if basket A is more expensive. B) Pedro prefers market basket B to basket A. C) Market basket B will cost more than basket A. D) If the prices change and Pedro chooses market basket C, which now costs the same as basket B, then basket C is prefer to basket A.
Supporters of minimum-wage legislation argue that:
A. workers deserve a basic standard of living. B. it would not be fair for firms to pay a wage that would leave workers struggling to escape poverty. C. a worker earning minimum wage should be able to live above the poverty line. D. All of these are true.