The quantity equation makes the demand for money depend on
A) the unemployment rate and the level of interest rates.
B) the inflation rate and the unemployment rate.
C) interest rates and the unemployment rate.
D) None of these.
D
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Paul's monthly income decreased from $2,500 to $2,300. As a result, he decreased the number of DVDs he rents per month from 5 to 4. Paul's demand for DVD rentals is
A) price elastic. B) price inelastic. C) income elastic. D) income inelastic.
The wage rate found by the intersection of the market demand and supply curves for labor then determines the
A) firm's demand curve for labor. B) firm's supply curve for labor. C) labor's supply curve of labor. D) labor's demand curve for jobs.
Which program provides assistance to the aged, blind and disabled?
A) Social Security Program B) Supplemental Security Income program C) TANF D) Earned Income Tax Credit
As a result of a decrease in the price of online streaming movies, consumers download more movies online and buy fewer DVDs. This is an illustration of:
A. Consumer sovereignty B. The income effect C. The substitution effect D. Diminishing marginal utility