An expected increase in the future price of automobiles will lead to
A) an outward shift in demand for automobiles today.
B) a reduction in the demand for gasoline today.
C) a movement down the demand schedule for automobiles.
D) no predictable impact on today's demand for automobiles.
A
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In the short-run along the horizontal portion of the aggregate supply curve, an increase in the budget deficit and an expansionary monetary policy would:
A) increase the price level only. B) increase both the price level and real income. C) increase real income only. D) none of the above.
Independent workers using specialized capital save the costs of contracting but risk:
a. generalization. b. opportunism. c. inefficiency. d. over-utilization.
Refer to the figure below. A nation that has an income distribution of perfect equality would be represented by curve:
A. a
B. b
C. c
D. d
In national income accounting, a "final good" is
A) a finished product. B) something purchased with the goal of further resale. C) something purchased by an ultimate user in the household, business, or government sector. D) something that is impossible to determine.