An increase in the price of digital cameras will result in a(n):
A. Shift of the demand curve for digital cameras to the left
B. Decrease in the demand for digital cameras
C. Shift of the demand curve for digital cameras to the right
D. Movement up and to the left along the demand curve for digital cameras
Answer: D
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Probably the most significant factor explaining the drastic drop in the number of bank failures since the Great Depression has been
A) the creation of the FDIC. B) rapid economic growth since 1941. C) the employment of new procedures by the Federal Reserve. D) better bank management.
Which of the following statements is correct with respect to the debate between the Keynesians and new classical economists?
a. Each side criticized monetarism b. The key source of disagreement centered on how people form their expectations. c. Both models believed that recessions were characterized by falling aggregate demand. d. Both believed that unanticipated changes in monetary policy could influence output. e. all of the above.
Periodic fluctuations in GDP are called business cycles
a. True b. False
An example of a microeconomic decision is a situation in which
A. a government contemplates buying foreign currencies in an effort to influence exchange rates and the country's demand for goods and services. B. a firm evaluates how much to reduce the price of its product in an effort to influence sales and boost its profits. C. a central bank considers how much to increase the money supply during the coming month in an effort to constrain the rate of inflation. D. Congress and the president seek to reach a compromise on how much to increase government spending in an effort to influence national expenditures.