From 1995 to 1999 there was a dramatic rise in stock prices. If this rise made people feel wealthier, then it would have shifted
a. aggregate demand right.
b. aggregate demand left.
c. aggregate supply right.
d. aggregate supply left.
a
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Utility is the pleasure, satisfaction, or enjoyment derived from consumption.
Answer the following statement true (T) or false (F)
Which of the following is true?
i. When the world price of a good is lower than the price that balances domestic supply and demand, a country gains from exporting the good. ii. Compared to a no-trade situation, in a market with imports, consumer surplus is larger. iii. Quotas raise the domestic price of imported goods. A) only i B) only ii C) only iii D) i and ii E) ii and iii
As the price of cell phones fell during the last decade, consumers' total expenditures on cell phones increased. If the demand curve for cell phones did not shift, this fact means that the demand for cell phones
A) must have shifted leftward. B) must be upward sloping. C) is elastic. D) is inelastic.
In October of 2014, the nominal interest rate earned on money market accounts was around 0.20 percent. This interest rate is a measure of which of the following?
A) the opportunity cost of holding money B) the inflation rate C) the demand for money D) the real interest rate