Issuing coupons, waiting in line, and catering to favored customers are all methods of
A. nonprice rationing.
B. income distribution.
C. unbiased favoritism.
D. exploiting wealth.
Answer: A
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As we move along a bowed-out production possibility frontier, producing more tacos and less pizza, the opportunity cost of a pizza ________
A) increases B) remains the same C) decreases D) increases and then decreases
Going from M0 to M1 and to M2, what is the principle?
A) from household money demand to firm money demand B) from illiquid to liquid C) from most usable to least usable for transaction purposes D) from most usable to least usable as a store of value
Mary increases her consumption of Good X after the price of Good Y decreased. For Mary
A) Good X and Good Y are substitutes. B) Good X and Good Y are complements. C) Good X is an inferior good. D) Good Y is an inferior good.
Which one of the following is not a component of GDP, as measured using the expenditure approach?
a. Personal consumption. b. Exports. c. Durable goods. d. Government spending. e. Interest.