Which of the following would shift the demand curve for the normal good regular vanilla ice cream to the left?
a. reports of health risks as a result of eating vanilla ice cream
b. an increase in the price of frozen yogurt
c. a decrease in the price of hot fudge sauce
d. an increase in the price of regular vanilla ice cream
e. an increase in buyers' incomes
A
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If the required reserve ratio is 15 percent, there is no currency drain, and banks loan all of their excess reserves, an increase in the monetary base of $20,000 leads to a total increase in the quantity of money of
A) $200,000. B) $133,333. C) $3,000. D) $20,000. E) $300,000.
To avoid an increase in the local property tax, Sullivan County, New York, proposed a 2 percent hotel tax, which presumably would be passed on to tourists. The hotel industry argued that the tax would hurt hotel business. They are really arguing that
A. tourist and convention demand is inelastic, so hotel bookings will decline. B. tourist and convention demand is very elastic, so hotel bookings will decline. C. they would prefer a property tax increase instead. D. it is unfair to tax people who do not live in the area.
According to the simple Keynesian model, when planned expenditure exceeds income
a. prices rise. b. unplanned inventory investment is negative. c. income falls. d. planned expenditure falls. e. both b and d.
The biggest challenge faced by the German health care system in the 1990s was
a. eliminating the long waiting lists for expensive medical services. b. integrating East and West Germany into a single system. c. controlling overall health care spending as a percentage of GDP. d. how to control rising physicians' incomes in the name of social solidarity. e. how to provide high-income Germans with an effective safety valve so they will continue to support the system with their taxes.