Which of the following is probably not a normal good?
A. New automobiles.
B. Designer jeans.
C. Diamond rings.
D. Intercity passenger bus travel.
Answer: D
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A negative externality can be internalized by
A. persuasion. B. the imposition of a tax. C. the assignment of property rights. D. a voluntary agreement. E. all of the above
The difference between money and income is that
A) money is a flow and income is a stock. B) money is a stock and income is a flow. C) there is no difference—money and income are both stocks. D) there is no difference—money and income are both flows.
If a country has Y > C + I + G, then
a. S > I and it has a trade surplus. b. S > I and it has a trade deficit. c. S < I and it has a trade surplus. d. S < I and it has a trade deficit.
A decrease in interest rates by the Fed based on a given and unchanged policy reaction function represents a ________ the aggregate demand curve, and lower interest rates resulting from a downward shift in the Fed's policy reaction function represents a ________ the aggregate demand curve.
A. movement down; shift right of B. shift left of; shift right of C. movement up; movement down D. shift left of; movement up