Janelle spends all of her income on songs from iTunes ($1 each) and applications ($5 each) for her iTouch. If she makes her best affordable choice, she purchases 20 songs and 4 applications, what is her income?
A) $40
B) $20
C) $30
D) $25
A
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What does GDP measure, and what is the formula for calculating GDP using the expenditures approach?
What will be an ideal response?
When the U.S. real interest rate rises ________
A) U.S. dollar assets earn a higher return relative to foreign assets B) makes U.S. exports cheaper in foreign currencies C) imports will decrease D) all of the above E) none of the above
A straight line or curve can shift when a factor not included on the vertical axis or horizontal axis changes
a. True b. False Indicate whether the statement is true or false
Rent controls can cause a. a decline in the quality of housing available for rent
b. the development of a black market to allocate apartments to renters. c. longer search times for renters attempting to locate an apartment. d. all of these are possible results of rent controls.