When researchers compare people who are asked to imagine that, having previously purchased a ticket for $10, they arrive at the theater to discover they have lost their ticket to people who are asked to imagine that they arrive just before the performance to buy a ticket and find they have lost $10 from their wallets, which group is more likely to say that they would still attend the performance?
A. Both groups are equally likely to say they would attend the performance.
B. The lost $10 group
C. Both groups report that they would no longer go to the performance.
D. The lost ticket group
Answer: B
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If a country's real GDP grows at 10% per year, its real GDP will double about every
A) 5 years. B) 7 years. C) 10 years. D) 14 years.
The label 'Asian Tigers' describes the following economies ________
A) China, South Korea, Singapore and Taiwan B) Hong Kong, Taiwan, South Korea and Singapore C) Singapore, Taiwan, Hong Kong, and China D) South Korea, Singapore, China and Hong Kong
Which of the following is false?
A) Economists who believe that the AS curve is vertical assert that changes in Real GDP originate only on the supply side of the economy. B) Economists who believe that the AS curve is upward-sloping assert that changes in Real GDP originate only on the supply side of the economy. C) For economists who believe that the AS curve is upward-sloping, government policy that aims to impact either side of the economy (supply or demand) will change both prices and Real GDP. D) Compared to the economists who believe that the AS curve is upward-sloping, the economists who believe that the AS curve is upward-sloping assert that the government has fewer tools with which to change Real GDP.
If the government increases the income tax rate they likely intend for:
A. C to increase, shifting aggregate demand to the right. B. I to increase, shifting aggregate demand to the right. C. C to decrease, shifting aggregate demand to the left. D. G to increase, shifting aggregate demand to the right.