You own a condominium in Orlando, Florida. During the recent downturn in housing values in the area your condo's value declined by $75,000. Your economic income ________ and your taxable income ________.
A. fell; fell
B. fell; was unchanged
C. was unchanged; was unchanged
D. was unchanged; fell
Answer: B
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A real quantity is a quantity measured:
A. using real prices. B. in terms of current dollar value. C. in physical terms. D. by the average quantity.
The figure above shows an education market in which the government is providing households with vouchers. What is the efficient quantity of students?
A) 2 million B) 4 million C) 6 million D) more than 6 million E) more than 4 million and less than 6 million
If the price level rises, then
a. the interest rate falls and spending on goods and services falls. b. the interest rate falls and spending on goods and services rises. c. the interest rate rises and spending on goods and services falls. d. the interest rate rises and spending on goods and services rises.
A constant debt-to-GDP ratio in a growing economy is consistent with a:
A. continual surplus. B. falling level of total debt. C. balanced budget. D. continual deficit.