The amount that ________ have accumulated out of past income through saving and inheritance is wealth.
A. corporations
B. markets
C. households
D. governments
Answer: C
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Cost-push inflation: a. occurs when the aggregate demand curve shifts rightward
b. occurs when the aggregate supply curve shifts rightward. c. results in a decrease in the unemployment rate. d. results in a movement along the aggregate demand curve. e. is caused by the same factors that lead to demand-pull inflation.
In the figure above, if price DECREASES from $80 to $60, an arrow representing the QUANTITY effect
A. will be shorter than (and in the same direction of) the arrow representing the price effect. B. will point in the opposite direction in which total revenue will move. C. will be shorter than (and in the opposite direction of) the arrow representing the price effect. D. will point upward. E. will point downward.
Which one of the following is NOT a characteristic of public goods?
A) They are indivisible. B) It is difficult to charge people on the basis of how much they use. C) Public goods can be used by increasing numbers of people at no additional cost. D) Public goods are subject to the principle of rival consumption.
In the United States, the rate of unemployment is highest for:
A. white teenagers. B. African-American teenagers. C. married women. D. unmarried women.