If price of a good rises, what happens to quantity demanded for that good?
A. It increases.
B. It decreases.
C. It does not change.
D. The answer depends upon the supply of the good.
Answer: B
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Which of the following would be expected to shift the consumption function up?
A) decreases in wealth B) increases in the nation's population C) expectations of harder times ahead D) changes in real disposable income
Which of the two features of the IMF Articles of Agreement helped promote flexibility in external adjustment?
A) IMF members helped countries maintain full employment. B) IMF allowed countries to attain internal balance. C) New countries would enter the agreement if they fixed their exchange rate. D) IMF members contributed their currency to form a pool of resources that IMF could lend to countries in need and parities in the exchange rate against the dollar could be adjusted with agreement of IMF. E) IMF members argued against the use of floating exchange rates.
In the loanable funds market model, the demand curve represents:
a) borrowers. b) taxes. c) savers. d) the budget balance.
Which of the following is not a macroeconomic statement?
A. Congress increased the minimum wage rate in January. B. Jenny's wage rate rose, and in response, she decided to work more hours. C. The unemployment rate for the United States rose to 5 percent in the last quarter. D. The Federal Reserve lowered interest rates at its last meeting.