________ are financial assets that represent partial ownership of a corporation
A) Stocks
B) Financial markets
C) Bonds
D) Certificates of deposit
A
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If you save less because the government is going to tax you and later provide you with a benefit, then this reduction in savings is referred to by economists as the
A. asset substitution effect. B. induced retirement effect. C. slovenly effect. D. bequest effect.
Refer to the graph shown. Demand is unit elastic when revenue is:
A. $4,000. B. $10,000. C. $6,000. D. $8,000.
A year-long drought that destroys most of the summer's crops would be considered a:
A. short-run supply shock. B. long-run demand shock. C. long-run supply shock. D. short-run demand shock.
Assume that the economy is in a recession and there is a budget deficit. A strict balanced-budget amendment that would require the federal government to balance its budget during a recession would be:
A. expansionary and worsen the effects of the recession. B. expansionary and counter the effects of the recession. C. contractionary and worsen the effects of the recession. D. contractionary and counter the effects of the recession.