Refer to the graph shown.
The effect of expansionary fiscal policy on inflation and unemployment, with globalization, is best represented by a movement from:
A. B to D.
B. B to A.
C. A to B.
D. C to B.
Answer: C
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A price index based upon the items purchased by firms is the
A. CPI. B. core PCE. C. Producer Price Index. D. PCE.
If there is a surplus of a product, its price:
A. is below the equilibrium level. B. is above the equilibrium level. C. will rise in the near future. D. is in equilibrium.
In the figure above, how much do the consumers pay in total for the quantity of pizza they buy per day?
A) $100,000 B) $150,000 C) $125,000 D) $50,000 E) None of the above answers is correct.
Which of the following statements cannot be made regarding consumer preferences?
a. Pat enjoys her second cotton candy less than her first. b. Bill enjoys his second cotton candy as much as the first. c. Arnie enjoys two cotton candies more than one cotton candy. d. Arnie enjoys two cotton candies more than Pat enjoys one cotton candy. e. Bill and Arnie enjoy their second cotton candy less than they do their first.