Examples of nondurable consumer goods include all of the following EXCEPT
A. a dinner table.
B. a pizza delivered to your home.
C. a movie ticket.
D. a cup of coffee.
Answer: A
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Which of the following statements best describes the changes in federal spending of the US economy from 1939 to 1949?
a. Between 1939 and 1944 military expenditures increased substantially and civilian-related expenditures remained about the same. b. Between 1939 and 1944 both military and civilian-related expenditures increased substantially. c. Between 1939 and 1944 the production possibilities frontier for military and civilian-related expenditures shifted out. d. Between 1944 and 1949 military expenditures decreased substantially and civilian-related expenditures returned to 1939 levels.
According to Keynes, the goal of macroeconomic policy is not to balance the budget but to achieve equilibrium at full employment.
Answer the following statement true (T) or false (F)
Lord Greystroke uses his limited income to purchase fruits and nuts; he is currently buying 10 pounds of fruits at a price of $2 per pound and 5 pounds of nuts at a price of $6 per pound. The last pound of fruits added 10 units to Lord Greystroke's total utility, while the last pound of nuts added 30 units. Lord Greystroke
A. should buy more nuts and less fruits because the last dollar spent on nuts added more to total utility than the last dollar spent on fruits. B. should buy more fruits and less nuts because the last pound of fruits cost less than the last pound of nuts. C. is making the utility-maximizing choice. D. should buy more nuts and less fruits because the last pound of nuts added more to total utility than the last pound of fruits. E. should buy more fruits and less nuts because the last dollar spent on fruits added more to total utility than the last dollar spent on nuts.
If the government decides to change the level of government spending, what happens to the value of the multiplier?
A. It becomes larger. B. It becomes smaller. C. It does not change. D. It is impossible to predict.