If consumers buy a large number of plug-in electric cars, the equilibrium price of electricity will ________ and the equilibrium quantity of electricity will ________
A) rise; decrease
B) not change; increase
C) fall; increase
D) fall; decrease
E) rise; increase
E
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What effect does the age of a household have when estimating the degree of inequality in income among households?
What will be an ideal response?
For the principle of diminishing marginal returns to hold,
a. all resources must vary. b. at least one resource should remain fixed. c. only one resource should vary. d. a minimum of three input resources is necessary.
Under a fixed exchange rate system, an expansionary fiscal policy such as an increase in government expenditures will lead to a(n) ________ in real GDP and a ________ inflation rate
A) increase; higher B) increase; lower C) decrease; higher D) decrease; lower
Under a regressive tax, the fraction of income paid in taxes
a. rises as income rises. b. is unchanged as income changes. c. falls as income rises. d. is proportional to the change in income.