According to the quantity theory of money, the inflation rate equals
A) the money supply minus real output.
B) the growth rate of the money supply minus the growth rate of real output.
C) real output minus the money supply.
D) the growth rate of real output minus the growth rate of the money supply.
Answer: B
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A major university hired an economist to forecast enrollment to produce a prediction of “head count.” One variable that she would probably emphasize more than any other in trying to make the forecast
A. how interested people are in attending college. B. the employment opportunities that college opens up. C. survey results on public interest in education. D. her instinct about what the public wants. E. the price of attending—tuition.
If Bill Gates voluntarily gives some of his money to a destitute family, it would be a Pareto improvement
a. True b. False
An increase in a consumer's income will cause the budget line to:
A. shift outward. B. shift inward. C. become steeper. D. become flatter.
Refer to the information provided in Figure 20.5 below to answer the question(s) that follow.
Figure 20.5Refer to Figure 20.5. The domestic price of oil is $130 per barrel, and the world price of oil is $120 per barrel. If the domestic government imposes a tariff of $10 per barrel, it will
A. import 5 million barrels. B. export 5 million barrels. C. export 7 million barrels. D. import zero barrels.