Which of the following is the most liquid store of purchasing power?
a. A dollar bill.
b. Common stock.
c. Gold.
d. Real estate.
a
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Referring to a production possibilities curve and the goods being compared, depict the economic event. The SARS epidemic spreads rapidly throughout Toronto, Canada claiming millions of lives (capital vs. consumer goods).
A. A movement from a point inside the curve to a point on the curve B. A movement from a point on the curve to a point inside the curve C. A shift in the entire curve to the right (outward) D. A shift in the entire curve to the left (inward)
Personal consumption expenditures include all of the following EXCEPT spending on
A) consumer durable goods. B) consumer nondurable goods. C) consumer services. D) new housing.
Requiring that barbers have licenses, restricts entry and
A) raises the average quality of hair cuts. B) increases the costs of getting a hair cut. C) may increase or decrease welfare. D) All of the above.
A decrease in the price level will result in:
a. a downward shift of the AD curve. b. an upward shift of the AD curve. c. a movement up the AD curve. d. a steeper slope of the AD curve. e. a movement down the AD curve.