Which of the following cases represent the smallest increase in the real national debt?
a. The price level increases by 200 percent and the nominal debt increases by 200 percent.
b. The price level increases by 200 percent and the nominal debt increases by 100 percent.
c. The price level increases by 200 percent and the nominal debt increases by 500 percent.
d. The price level increases by 100 percent and the nominal debt increases by 300 percent.
e. None of the above
B
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If consumers value the product-specific services for a new smartphone at $25, if retailers offer the product-specific services for the smartphone, the market ________ will ________.
A) supply; parallel shift to the right by $25 B) demand; parallel shift to the right by $25 C) demand; parallel shift to the left by $25 D) demand; parallel shift to the right by less than $25
Everything else equal, the more rivals a firm has, the
a. less kinked is its demand curve. b. closer is its equilibrium price to its average variable costs. c. more differentiated is its product from rivals' products. d. more elastic is its demand curve.
A government fulfills a protective function when it
A) provides funds for flood control projects and builds highways. B) prevents illegal seizure of private property. C) established and enforces minimum wage laws. D) taxes some citizens in order to provide income transfers to others.
Assuming the economy is at full employment, a decrease in aggregate demand will most likely cause a change in which of the following types of unemployment?
A. Structural. B. Seasonal. C. Frictional. D. Cyclical.