In economics, the word "aggregate" refers to
A) the government.
B) how individual households differ from each other.
C) the public sector itself.
D) an economy as a whole.
D
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If there is no Ricardo-Barro effect, a government budget surplus
A) increases the demand for loanable funds. B) increases the supply of loanable funds. C) decreases the supply of loanable funds. D) decreases the demand loanable funds. E) has no effect on the demand for loanable funds, the supply of loanable funds, or the real interest rate.
Figure 5-14
Martha initially buys the combination of pens and pencils shown as A in Figure 5-14. After the prices of both goods change, she buys combination B. It must be true that
a.
Martha prefers A to B.
b.
Martha prefers B to A.
c.
Martha is indifferent between A and B.
d.
Martha's preferences between A and B cannot be determined from the information given.
Economic systems differ from one another based on who own the factors of production and:
A. How much resources are available in the economy and where they are located B. Who make decisions regarding what to produce and how it is produced C. What kinds of products are produced in the economy and how plentiful they are D. How big the population is, and the makeup of the population
The cross-price elasticity of demand between telephones and ramen noodles is most likely:
A. positive. B. negative. C. zero. D. greater than one.