Which of the following is a possible budget reform?
a. a quarterly budget
b. adding more line items to the budget
c. a biennial budget
d. none of the above would reform the budget process
c
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The origin of a graph is the intersection of the two axes, where the value of both variables is zero
Indicate whether the statement is true or false
During the Winter Olympics in Vancouver, some residents rented rooms to visitors. This behavior
A) helped reduce the shortage of hotel rooms caused by the high demand during the Olympics. B) reduced the demand for tickets to the Olympics since many local residents left town while they rented out space in their homes. C) hurt the hotel market in Vancouver in the long run because new hotels that should have been built were not built for the Olympics. D) raised the demand for hotel rooms in Vancouver and should have been prevented by the city of Vancouver.
Q: How many economists does it take to screw in a light bulb? A: None. If the light bulb really needed changing, market forces would have already caused it to happen. This joke represents the view of
A) classical economists. B) Keynesian economists. C) economists who conclude that money illusion is widespread. D) economists who conclude that wages and prices are inflexible.
If the Fed changes the interest rate, there will be
a. a movement along the aggregate expenditure line followed by a shift in the line b. no movement along the aggregate expenditure line because the effect is on investment c. a shift in the aggregate supply curve d. an increase in the money supply e. a shift in the aggregate expenditure line