Which of the following increases the quantity supplied of good X but does NOT increase the supply of good X?
A) a fall in the price of a factor production used to produce X
B) an advance in the technology for producing X
C) an increase in the price of good Y, a complement in the production of X
D) an increase in the price of X
D
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Refer to the below graphs. (Assume that the pre-migration labor force in Country A is 100 and that it is 150 in country B.) After immigration occurs, total business income in country B:
A. Increases by $475M
B. Increases by $50M
C. Decreases by $50M
D. Decreases by $475M
If the MPC is 0.95, then a $10 million increase in disposable income will
A) increase consumption by $200 million. B) decrease consumption by $105 million C) increase consumption by $9.5 million. D) increase consumption by $950 million.
A determinant of the supply of loanable funds is:
A. current economic conditions. B. expected profit on an investment. C. investors’ confidence. D. All of these are determinants of the supply of loanable funds.
Behavioral mechanism design economists face which of the following problems when solving policy issues?
A. How to find the right combination of social and moral incentives but without considering prices B. How much mathematics to include in the model, an issue only behavioral economists face C. How to convince people that their approach to policy issues will work, an issue only behavioral economists face D. How to find the right combination of market, social, and moral incentives that will achieve a goal