Butter and margarine are examples of
a. substitutes
b. complements
c. externalities
d. inferior goods
e. goods that are independent of each other
A
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Which of the following statements concerning the First Bank of the United States is not true?
a. Its goal was to prevent state-chartered banks from overissuing bank notes. b. Its charter lasted 20 years. c. It was the first version of a central bank in the United States. d. It served as the government's fiscal agent. e. It was the first bank chartered in the United States.
Exhibit 9-3 Keynesian aggregate expenditures model
?
As shown in Exhibit 9-3, if GDP is $6 trillion, the economy experiences unplanned inventory:
A. depletion of $2 trillion. B. depletion of $6 trillion. C. accumulation of $2 trillion. D. accumulation of $6 trillion.
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4Refer to Figure 2.4. The economy moves from Point E to Point B. This could be explained by
A. a change in society's preferences for hybrid cars versus motorcycles. B. an increase in economic growth. C. an increase in unemployment. D. a reduction in unemployment.
This graph shows three different budget constraints: A, B, and C.
If we compare budget constraint A to budget constraint B in the graph shown, what can be said of the relative prices reflected in the two?
A. Because B is steeper, soda is relatively less expensive in A than in budget constraint B. B. Because B is flatter, soda is relatively more expensive in A than in budget constraint B. C. Because A is flatter, soda is relatively more expensive in A than in budget constraint B. D. Because A is steeper, soda is relatively less expensive in A than in budget constraint B.