According to the hypothesis, when did structural stagnation begin?
A. The mid-1990s
B. The mid-1970s
C. The mid-1980s
D. The mid-1960s
Answer: A
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The above figure shows the market for pizza. The market is in equilibrium when some of the pizza firms go out of business. What point represents the most likely new price and quantity?
A) A B) B C) C D) D E) E
The relative price of a good is
A) an opportunity cost. B) equal to the money price of a good. C) equal to the price of that good divided by the quantity demanded of the good. D) what you get paid for babysitting your cousin.
The quantity of money that households and businesses will demand
a. increases if income falls but decreases if interest rates rise. b. increases if income falls and increases if interest rates rise. c. decreases if income falls but increases if interest rates rise. d. decreases if income falls and decreases if interest rates rise.
Assuming that bus travel is an inferior good, an increase in consumer income, other things being equal, will cause
a. an upward movement along the demand curve for bus travel. b. a downward movement along the demand curve for bus travel. c. a rightward shift in the demand curve for bus travel. d. a leftward shift in the demand curve for bus travel.