There is news that the price of Tucker's Root Beer will increase significantly next week. If the demand for Tucker's Root Beer reacts only to this factor and shifts to the right, the position of this demand curve has reacted to a change in:
a. tastes.
b. income levels.
c. the price of other goods.
d. the number of buyers.
e. expectations.
e
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If unemployment and inflation always move in the same direction, then we can infer that business fluctuations are
A. from the demand side. B. from the supply side. C. from both the demand and supply side. D. purely random events.
One advantage of a proprietorship is that
A) it is relatively easy to raise financial capital for a proprietorship. B) a proprietorship is relatively easy to form and to dissolve. C) there are limits to the possible liabilities of the owner. D) depreciation rates on capital are higher.
If the government increased defense spending by $1 million and laid off enough Justice Department employees to decrease the Department of Justice budget by $1 million, which of the following is the likely net effect?
a. An increase in the budget deficit and transfer payments b. An increase in the budget deficit and net taxes c. An increase in the budget deficit and government spending d. No change in the budget deficit because there is no net change in government spending e. No change in the budget deficit because neither defense spending nor the Department of Justice is included in government spending
Unilateral transfers are
A. transactions that take place across geographic boundaries but in which both participants are citizens of the same country. B. gifts from residents of one country to foreign residents. C. government transactions that involve reserves. D. transactions that take place within the geographic boundaries of a country.