Changes in the price level affect which components of aggregate demand?
a. only consumption and investment
b. only consumption and net exports
c. only investment
d. consumption, investment, and net exports
d
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How is the market demand for public goods derived?
What will be an ideal response?
Which of the following has the lowest present value?
A) $1,000 received in 3 years if the current interest rate is 4% B) $1,500 received in 5 years if the current interest rate is 6% C) $2,000 received in 6 years if the current interest rate is 11% D) $3,000 received in 10 years if the current interest rate is 13%
How could Adam Smith's comment about the butcher, the brewer, and the baker be accurately rephrased in modern terms?
A) The butcher, the brewer, and the baker give us our dinner because they want to be well liked in the community. B) The butcher, the brewer, and the baker give us our dinner because they will be sued if they don't do so. C) The butcher, the brewer, and the baker give us our dinner because they each earn a living by doing so. D) The butcher, the brewer, and the baker give us our dinner because they view doing so as a public service.
Laissez-faire is a policy that espouses central planning.
Answer the following statement true (T) or false (F)