If the price level increases, the AE curve shifts
A) upward and the AD curve shifts leftward.
B) upward and there is a movement along the AD curve.
C) upward and the AD curve shifts rightward.
D) downward and there is a movement along the AD curve.
E) downward and the AD curve shifts rightward.
D
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If the price of product X increases, then the resulting decline in the amount purchased will
A. reduce the marginal utility of the last unit consumed of this good. B. increase the marginal utility of the last unit consumed of this good. C. necessarily increase the consumer's total utility from his total purchases. D. increase the total utility from purchases of this good.
Suppose U.S. net exports are -$400 billion and the U.S. government sector surplus is $200 billion. Then in the private sector, saving minus investment equals
A) -$600 billion. B) -$200 billion. C) +$600 billion. D) +$200 billion.
If a Lorenz curve moves leftward and becomes closer to the line of equality over time, then
A) the population is growing. B) income is growing. C) income is being more equally distributed. D) income is being more unequally distributed.
Which of the following would be an example of a public good?
a. A candy bar. b. A painting by Monet. c. A taxi cab. d. A sunset. e. The beach.