An economist worrying about the economic impact of environmental regulations would model that impact with
A. an increase in aggregate demand.
B. an increase in aggregate supply.
C. a decrease in aggregate supply.
D. a decrease in aggregate demand.
Answer: C
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The wages paid to the workers in a leather processing plant are: a. considered the total cost of the plant
b. considered a fixed cost of the plant. c. considered a variable cost of the plant. d. considered a marginal cost of the plant.
Which of the following is true?
A. Keynes asked the question: If supply creates its own demand, why are we in a worldwide depression? B. According to Keynes, if savings were greater than investment, interest rates would fall, bringing the economy back to full employment. C. Keynes believed that wages and prices were flexible. D. Keynes believed the economy was basically stable.
Which of the following is not a durable good?
A) furniture B) automobile C) clothing D) refrigerator
A bank account that permits direct payment to a third party is a
A. Savings account. B. Transactions account. C. Traveler's check. D. Money market mutual fund.