Which panel of Figure 3.3 represents the changes in the market for beef when the price of corn (cattle feed) rises and the people become more fearful of mad cow disease?
A. A.
B. B.
C. C.
D. D.
Answer: D
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Which of the following would likely result in a shift of the aggregate demand curve to the right?
A) a rise in the real interest rate B) a decrease in the quantity of money in circulation C) a decrease in job security D) a tax cut
If the government increases unemployment benefits, then the labor
A) demand curve shifts rightward. B) demand curve shifts leftward. C) supply curve shifts rightward. D) supply curve shifts leftward. E) Both answers B and D are correct.
Which of the following is FALSE about private savings and government savings?
A) SP = Y - T - C B) Unlike private saving decisions, government saving decisions are often made with an eye toward their effect on output and employment. C) Total savings (S) = SP + . D) The national income identity can help us to analyze the channels through which government saving decisions influence macroeconomic conditions. E) None of the above; all statements are true.
A very high grade point average (GPA) is an example of ________.
A) asymmetric information B) a credible signal C) a credible trademark D) adverse selection