Data on annual percentage changes in real GDP, consumption, and investment in the United States shows that fluctuations in investment _____
a. are noticeably smaller during expansions than during recessions
b. are roughly similar to fluctuations in consumption
c. are roughly similar to fluctuations in GDP
d. are closely followed by economic forecasters because those fluctuations often signal that a recession will occur
e. account for most of the variability in GDP
e
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A ________ demand curve for shampoo would be caused by a change in the price of shampoo
A) positively sloped B) leftward shift of the C) rightward shift of the D) movement along the
You want to buy a TV that regularly costs $250. You can either buy the TV from a nearby store or from a store that's downtown. Relative to going to the nearby store, driving downtown involves additional time and gas. The downtown store, however, has a 10 percent off sale this week. Last week you drove downtown to save $20 on some concert tickets, a 15 percent savings. Should you drive downtown to buy the TV?
A. No, because you will save more than $20. B. Yes, because you will save more than $20. C. No, because you will only save 10 percent, which is less than 15 percent. D. Yes, because you will save 10 percent, which is better than nothing.
Refer to the graph shown. If the price level is P0, then:
A. both input prices and output will fall in the long run. B. both input prices and output will rise in the long run. C. input prices will fall and output will rise in the long run. D. input prices will rise and output will fall in the long run.
Which of the following is a result of a rent ceiling set below the equilibrium rent? I. equity in the housing market II. efficient allocation of resources III. a shortage of housing units
A) I and II B) I and III C) II only D) III only