Answer: D) price level; quantity of real GDP demanded
The aggregate demand curve shows the relationship between the ________ and ________
A) inflation rate; quantity of real GDP demanded
B) real interest rate: quantity of real GDP supplied
C) nominal interest rate; quantity of real GDP demanded
D) price level; quantity of real GDP demanded
Economics
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"Crowding out" is the theory that an increase in our federal government's budget deficit will likely:
a. increase the national debt. b. increase interest rates. c. decrease borrowing by households and businesses d. reduce the impact of the spending multiplier implies because of crowding out. e. all of these.
Economics
If there are four firms in an industry with market shares of 50 percent, 40 percent, 5 percent, and 5 percent, the Herfindahl-Hirschman Index is
A) 100. B) 4150. C) 25. D) 3450. E) undefined because there are not 50 firms in the industry.
Economics
Al works as a sales clerk at a department store for a fixed salary of $2,500 per month
He is offered a job as a salesperson at a car dealership in which there is a 50 percent chance that he will make $5,000 a month and a 50 percent chance that he will make only $1,000 a month. The figure above Al's utility of wealth curve: a) What is Al's expected income from the offered job? b) What is Al's expected utility from the offered job? c) Will Al accept the offer? Why or why not? d) What is the minimum fixed salary for which Al will continue to work for the department store and not accept the dealership's offer?
Economics
If Johnny weren't in economics class this morning, he'd be sleeping. The value Johnny places on sleeping represents his:
A. marginal benefit. B. incentives. C. sunk cost. D. opportunity cost.
Economics