If consumer incomes go up and you are analyzing the market for Harley Davidson motorcycles, the effect on the demand for motorcycles, ceteris paribus, will be
a. an upward movement along the demand curve for motorcycles.
b. a downward movement along the demand curve for motorcycles.
c. a rightward shift in the demand curve for motorcycles.
d. a leftward shift in the demand curve for motorcycles.
c. a rightward shift in the demand curve for motorcycles.
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A $25,000 price tag on a new car is an example of money as
A) a medium of exchange. B) a unit of account. C) a store of value. D) a time deposit.
When computing a price index, the base year is
A) the earliest year for which data are available. B) the year that is chosen as the point of reference for comparison of prices with other years. C) the most recent year for which data are available. D) the most recent year in which the inflation rate was close to zero.
According to new Keynesian economics:
a. the aggregate supply curve is horizontal at relatively low levels of real GDP and becomes negatively sloped, as more and more industries reach their full capacity level of output. b. the aggregate supply curve is negatively sloped at relatively low levels of real GDP and becomes horizontal, as more and more industries reach their full capacity level of output. c. the aggregate supply curve is horizontal at relatively low levels of real GDP and becomes positively sloped, as more and more industries reach their full capacity level of output. d. the aggregate supply curve is positively sloped at relatively low levels of real GDP and becomes horizontal, as more and more industries reach their full capacity level of output. e. the aggregate supply curve is positively sloped at relatively low levels of real GDP and becomes negatively sloped, as more and more industries reach their full capacity level of output.
The labor force consists of:
a. people more than 20 years old and who are looking for work. b. people more than 16 years of age and older working or looking for work. c. all adults above 18 years of age with job skills. d. all working adults employed for more than forty hours a week.