Increased uncertainty and pessimism about the future of the economy lead firms to desire less investment spending which shifts the aggregate-demand curve to the left

Alpha can produce either 18 tons of oranges or 9 tons of apples in a year, while Omega can produce either 16 tons of oranges or 4 tons of apples. If the terms of trade are established as 1 ton of apples for 4 tons of oranges: a. there are no incentives

for Omega to engage in international specialization and trade with Alpha. b. it is in the interest of Omega to grow oranges and trade for apples. c. it is in the interest of both countries to specialize and trade with one another. d. there are no incentives for Alpha or Omega to specialize and trade with one another.

Microeconomics approaches the study of economics from the viewpoint of:

A. inflation, unemployment, and economic growth. B. the federal government. C. individual economic units, such as consumers, firms, industries, and units of government. D. the economy as a whole.