Refer to the information provided in Figure 3.13 below to answer the question(s) that follow.
Figure 3.13Refer to Figure 3.13. Assume hamburgers and french fries are complements. A decrease in the price of french fries will cause a movement from
A. Point A to Point B.
B. Point G to Point F.
C. S2 to S1.
D. D1 to D2.
Answer: D
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If the economy is in equilibrium with real GDP less than potential GDP, there is ________ gap and a fiscal policy that ________ is appropriate
A) an inflationary; increases aggregate demand B) an inflationary; decreases aggregate demand C) a recessionary; increases aggregate demand D) a recessionary; decreases aggregate demand E) a recessionary; increases potential GDP
In the above figure, the competitive unregulated equilibrium is producing and consuming ________ vaccinations per year at a price of ________
A) 30 thousand; $40 B) 30 thousand; $30 C) 30 thousand; $20 D) 50 thousand; $30
The existence of inflation and other possible uncertainties reduces the usefulness of money as a store of value
a. True b. False Indicate whether the statement is true or false
Kelly earns $72,000 per year from her fashion boutique. If the government increases the rate of tax from 12 percent to 15 percent, then her annual disposable income would: a. increase by $2,160
b. decrease by $2,160. c. increase by $10,800. d. decrease by $10,800.