Which of the following was one of the likely causes of the productivity problem of the 1970s?
A. a reduction in government regulation
B. an increase in research and development spending
C. rapid growth in investment spending
D. low saving rates
Answer: D
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In 2014, the price of peanuts increased. In the market for peanut butter, this change lead to ________ and which therefore ________ the price of peanut butter and ________ the quantity of peanut butter
A) a decrease in the supply; increased; decreased B) an increase in supply; decreased; increased C) a decrease in demand; decreased; decreased D) an increase in demand; increased; increased
From the equation of exchange, if both real income (Y) and the quantity of money (M) double and the price level (P) remains constant, then velocity (V) ________ and nominal income ________
A) remains constant; doubles B) doubles; remains constant C) doubles; doubles D) decreases by 50 percent; quadruples E) none of the above
The demand for a movie ticket is probably ________ than is the demand for a Broadway show ticket because ________.
A. less price elastic; a movie ticket has fewer available substitutes. B. more price elastic; a movie ticket requires a smaller portion of one's income. C. more price elastic; a movie ticket has fewer available substitutes. D. less price elastic; a movie ticket requires a smaller portion of one's income.
Suppose Johnson's Rubber Factory belches black smoke into the air over the city of Bellowsville. If the city of Bellowsville attempts to internalize the external costs associated with the production of rubber with a pollution tax, we can expect:
A. the price of rubber not to change. B. the price of rubber to increase. C. the quantity of rubber demanded to increase. D. no change in the quantity of rubber demanded.