The In the News article titled "Men vs. Women: How They Spend" differentiates the spending habits of women and men: "Men spend almost twice as much as women do on electronic equipment … young women spend twice as much money on clothing, personal care items, and their pets." Which determinant of demand is most likely involved?
A. Other goods (availability and prices).
B. Income.
C. Tastes.
D. Expectations.
Answer: C
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The demand for current consumption, as plotted against the interest rate, shifts to the right due to all of the following except
A) a decrease in current taxes. B) a increase in future taxes. C) an increase in current income. D) an increase in future income.
If the quantity of money demanded is less than the quantity supplied at a given interest rate, what will happen to restore the market to equilibrium?
a. The public will try to buy bonds, the price of bonds will increase, and the interest rate will fall until the equilibrium is attained where the money demand and supply curves intersect. b. The public will try to sell bonds, the price of bonds will decrease, and the interest rate will rise until equilibrium is attained where the money demand and supply curves intersect. c. The public will try to sell bonds, the price of bonds will increase, and the interest rate will fall until equilibrium is attained where the money demand and supply curves intersect. d. The public will try to buy bonds, the price of bonds will increase, and the interest rate will rise until equilibrium is attained where the money demand and supply curves intersect. e. The public will try to buy bonds, the price of bonds will decrease, and the interest rate will fall until equilibrium is attained where the money demand and supply curves intersect.
Economic growth in Lillian’s country has been very slow. Which of the following offers the most likely explanation for this?
a. The population is increasing rapidly. b. The standard of living is low. c. Too much of the nation’s resources are being invested in technology. d. People are saving too much of their income instead of consuming.
If demand is represented as Qd = 18 - 6P and supply is represented as Qs = 3 + 9P, the equilibrium price is
A. $1. B. $4. C. $7. D. $12.