Consumer spending is __________
Fill in the blank(s) with the appropriate word(s).
Answer: - A part of RGDP
- Positively related to disposable income
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In 2006, before the start of the recession, the employment-population ratio was 63.4 percent. In August 2015, more than six years after the end of the recession, the ratio
A) was still 50 percent lower than the ratio in 2006. B) had increased to 72.3 percent. C) was still only 59.4 percent. D) was back to its 2006 level.
The purchase of Treasury securities by the Federal Reserve will, in general
A) not change the money supply. B) decrease the quantity of reserves held by banks. C) increase the quantity of reserves held by banks. D) not change the quantity of reserves held by banks.
Suppose the price of crude oil used to produce gasoline rises significantly. At the same time, consumers purchase hybrid cars in great numbers. In the market for gasoline, the market clearing price ________ and the equilibrium quantity ________.
A) definitely falls, is indeterminate
B) is indeterminate, definitely falls
C) definitely falls, definitely rises
D) definitely rises, is indeterminate
An actual Lorenz curve shows
A. the relationship between income and tax revenue. B. the maximum and minimum wage gaps. C. the relationship between income and earnings potential. D. the share of income received by age group. E. the cumulative share of income earned by quintiles of households.