The national debt as a percentage of GDP has remained roughly constant since the end of World War II
a. True
b. False
Indicate whether the statement is true or false
False
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With two-part pricing
A) the consumer puts down a deposit and then pays the rest when she picks up the goods purchased. B) the average price paid varies with the number of units purchased. C) the consumer is limited in the number of units that can be purchased. D) consumers are required to buy two units of a good.
At low levels of employment, the Keynesian aggregate supply curve:
a. tilts downward to the right. b. tilts upward to the right. c. is vertical. d. shows a constant price level. e. shows a rising price level.
A combination of two goods which lies beyond the production possibilities curve indicates: a. underutilization of resources
b. overutilization of resources. c. constant opportunity costs. d. a combination that cannot be produced with existing resources. e. society's most preferred combination of two goods.
If the price of hot dogs increases, what will happen in the market for potato chips, a complementary good?
a. demand will increase b. quantity demanded will increase c. demand will decrease d. quantity demanded will decrease e. supply will decrease