The decrease in consumer spending that occurred after the collapse of the housing bubble caused aggregate:
A. demand to increase.
B. demand to decrease.
C. supply to increase.
D. supply to decrease.
B. demand to decrease.
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A decrease in population would shift the demand curve to the left
Indicate whether the statement is true or false
The U.S. Justice Department, on the basis of the Herfindahl index, classifies the industries with the value:
a. below 500 as highly competitive; 500-1000 as moderately competitive; and above 1000 as highly concentrated. b. below 1000 as highly competitive; 1000-1500 as moderately competitive; and above 1500 as highly concentrated. c. below 500 as highly competitive; 500-1500 as moderately competitive; and above 1500 as highly concentrated. d. below 1000 as highly competitive; 1000-1800 as moderately competitive; and above 1800 as highly concentrated. e. below 1500 as highly competitive; 1500-2000 as moderately competitive; and above 2000 as highly concentrated.
The poverty line is based on the percentage of people who cannot afford an adequate diet
a. True b. False Indicate whether the statement is true or false
Suppose Jack and Kate are at the town fair and are choosing which game to play. The first game has a bag with four marbles in it-1 red marble and 3 blue ones. The player draws one marble from the bag; if it is red, they win $20 and if it is blue, they win $1. The second game has a bag with 10 marbles in it-1 red, 4 blue, and 5 green. The player draws one marble from the bag; if it is red, they win $20; if it is blue, they win $5; and if it is green, they win $1. Both games cost $5 to play. Kate decides to play the second game. Kate's expected value of payoff is:
A. $5.00. B. $5.75. C. $4.00. D. $4.50.