The law of demand includes the statement "other things being equal." These other things include all of the following EXCEPT
A. consumers' tastes and preferences.
B. the price of that good in the law of demand.
C. consumers' income.
D. the number of potential buyers.
Answer: B
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Since Social Security benefits are paid from current contributions, the system is a
A) privatized system. B) overfunded system. C) "pay-as-you-go" system. D) defined contribution system.
Among the views shared by some of the different schools is
a. the Keynesian and the supply-side economics schools' views on the need to stimulate aggregate demand b. the classical school and the Keynesian schools' views on the flexibility of prices c. rational expectations and the neo-Keynesian schools' views on the government's ability to change the economy's long-run employment position d. the Keynesian and the rational expectations schools' views on the role of expansionary monetary policy e. the Keynesian and the monetarist schools' views on the role of the Federal Reserve
In a rent-controlled building, a landlord would most likely negotiate with a tenant who has ______.
a. recently moved into an apartment b. a low income c. lived in the apartment for 15 years d. a large family
Which of the following reasons can explain why purchasing power parity doesn't hold?
A. Transactions costs B. Fixed prices C. Political pressures D. All of these are reasons why purchasing power parity doesn't hold.