Which of the following is likely to result from the regulation of taxicabs in Mexico City?
a. The price of taxi rides will decrease.
b. The price of taxi rides will increase.
c. The income of taxi owners will increase.
d. Taxi owners will have greater monopoly power.
e. The supply of taxis will decrease.
A
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The aggregate demand curve is all of the equilibrium combinations of
A) the IS curve and the MP curve. B) the output gap and the price level. C) the price level and the real interest rate. D) the real interest rate and the output gap.
Water is plentiful in most of the world, so its price and total utility are low
a. True b. False Indicate whether the statement is true or false
Supply-siders argue that:
A. reductions in government spending cut infrastructure investment which hurts private sector investment. B. increases in government spending increase infrastructure investment which helps private sector investment. C. increases in government spending causes private sector investment to fall because the government pushes up interest rates. D. reductions in government spending cause private sector investment to fall because the government pushes up interest rates by borrowing.
When comparing the measure of goods and services of one country to that of another, economists generally compare:
A. the real GDP. B. the real GDP per capita. C. the real GDP and net exports. D. the real GDP and the labor force.