The difference between a change in quantity demanded and a change in demand is that
a. a change in demand is in response to a price change
b. a change in quantity demanded occurs when income changes
c. the demand curve shifts when there is a change in quantity demanded but not when demand changes
d. a change in quantity demanded results from a price change but other factors cause a change in demand
e. a change in demand occurs after a change in supply
d. a change in quantity demanded results from a price change but other factors cause a change in demand
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The Coase theorem states that, in the presence of cost externalities, an optimal equilibrium can be attained
A) with government taxation. B) by prohibiting production. C) by correctly defining property rights and through negotiation between the parties. D) None of the above
If the real rate of return is 2 percent, and the inflation rate is 0 percent, then the nominal interest rate must be:
A. 2 percent. B. 0 percent. C. 4 percent. D. ?2 percent.
The growth records of Japan and Hong Kong during the last fifty years indicate that an economy can grow rapidly without
a. securely defined property rights. b. abundant domestic natural resources. c. significant capital formation. d. adopting modern technology.
Most of the pressure for a monetary growth rule has disappeared because since 1980
A) the relationship between movements in the money supply and movements in real GDP and the price level have become much stronger. B) the relationship between movements in the money supply and movements in real GDP and the price level have become much weaker. C) the relationship between movements in interest rates and movements in real GDP and the price level have become much stronger. D) the relationship between movements in interest rates and movements in real GDP and the price level have become much weaker.