You earn $500 a month, currently have $200 in currency, $100 in your checking account, $2,000 in your savings accounts, $3,000 worth of illiquid assets and $1,000 of debt. You have
A) money = $2,300, annual income = $6,000, and wealth = $5,000.
B) money = $300, annual income = $6,000, and wealth = $4,300.
C) money = $300, annual income = $6,000, and wealth = $5,000.
D) money = $200, annual income = $500, and wealth = $4,300.
B
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An increase in the expected inflation rate will: a. shift the short-run Phillips curve upward and to the right
b. shift the short-run Phillips curve downward and to the left. c. not shift the short-run Phillips curve unless the unemployment rate changes. d. cause the unemployment rate associated with each inflation rate to decrease. e. tend to increase production unless the actual inflation rate also increases.
Consider the market for bicycles. If a dealer cuts prices by 10 percent and sells 20 percent more bikes, then demand for bicycles is
a. inelastic, and total revenue will increase b. elastic, and total revenue will increase c. inelastic, and total revenue will decrease d. elastic, and total revenue will decrease e. unit elastic, and total revenue will remain the same
A university's football stadium is never more than half-full during football games. This indicates
a. the ticket price is above the equilibrium price. b. the ticket price is below the equilibrium price. c. the ticket price is at the equilibrium price. d. nothing about the equilibrium price.
If transfer payments increase then we would most likely conclude what about government spending as a result of this increase?
A. Government spending would not change if transfer payments increase. B. We cannot reasonably conclude anything about government spending. C. Since transfer payments have gone up this has caused government spending to increase. D. Since transfer payments have gone up this has caused government spending to decrease.