If you split your dessert with your date, you are using a ________ allocation method
A) first-come, first-served
B) sharing equally
C) contest
D) personal characteristics
E) command
B
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An economy with an expansionary gap will, in the absence of stabilization policy, eventually experience a(n) ________ in the inflation rate, leading to a(n) ________ in output.
A. decrease; increase B. increase; increase C. decrease; decrease D. increase; decrease
The demand for labor is:
a. derived demand. b. featherbedding demand. c. marginal utility demand. d. all of these.
Which of the following is an example of a positive economic statement?
a. The economy's real output increased at about 3 percent last year and the unemployment rate decreased. b. A central bank should not print too much money because inflation could result. c. Congress should stabilize the social security system by raising taxes now. d. The government farm products surplus should be distributed to the needy.
Assume that the marginal propensity to consume equals 0.75 and the marginal propensity to import equals 0.10 . By how much does spending on domestic goods increase if income increases by $300?
a. $195 b. $225 c. $30 d. $300 e. $75