Graphically, cost-push inflation is shown as a:
A. leftward shift of the AD curve.
B. rightward shift of the AS curve.
C. leftward shift of the AS curve.
D. rightward shift of the AD curve.
C. leftward shift of the AS curve.
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Suppose there are two cities that have rent controlled apartments. In one city (Albany) all apartments are subject to rent control; in the other city (Halftrack) one-half of the apartments are rent controlled
Which of the following is most likely to be true? A) It will be easier to find an affordable apartment in Halftrack, either a rent-controlled apartment or another apartment, at a reasonable price. B) It will be difficult to find a rent-controlled apartment in Albany or Halftrack; rents for the Halftrack apartments not subject to controls will be higher than they would be without rent control. C) It will be easier to find an affordable apartment in Albany since rents will be low across the board. D) It will be impossible to rent an apartment in either city at any price.
Are we really rational consumers? If so, how do you explain the fact that every Thanksgiving many of us eat until we get sick! The answer must be that
a. the negative utility associated with being sick is greater than the positive utility of getting sick b. at the time of the eating, the utility of the turkey and stuffing minus the utility of the anticipated after-eating discomfort is still positive c. the utility of the turkey and stuffing at the time of eating minus the utility of the after-eating discomfort felt after the meal was eaten is still negative d. the total utility of eating the meal far outweighs the marginal utility of the discomfort felt after the meal e. the marginal utility of eating the meal far outweighs the total utility of the discomfort felt after the meal
What is fractional reserve banking?
Suppose the government increases spending on public education by $700 million and individual spending on private education drops by $500 million. This is an example of
A) incomplete crowding out. B) complete crowding out. C) zero crowding out. D) a and c E) none of the above