Referring to Figure 19.2, the effect of an increase in U.S. prices is represented by a movement from point
A) a to d. B) d to a. C) c to b. D) b to a.
A
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Which of the following is NOT a transfer payment?
A) Medicare B) Social Security retirement payments C) Social Security disability payments D) spending on national defense
A motorist who decides to enter a busy expressway during the morning rush hour
What will be an ideal response?
One of the fundamental problems a cartel faces is
A) to determine how much each producer will decrease its output. B) to determine how much each producer will increase its output. C) to determine how much each producer will lower it price. D) to determine how much each producer will lower its profit.
If the cost of your gasoline purchases decrease from $150 per month to $80 over a period of one year due to lower prices and your income decreases from $1,600 per month to $1,500 per month, your nominal income has
A. Increased, but your real income has remained the same. B. Decreased, but your real income has increased. C. Increased, but your real income has decreased. D. Increased, and your real income has increased.