The amount of after-tax income received by households is measured by:
A. discretionary income.
B. national income.
C. disposable income.
D. personal income.
C. disposable income.
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The sum of the individual demands of all consumers in the market is called
a. individual demand b. market demand c. inferior good d. market supply e. quantity demanded
The MRP = MFC maximization rule applies to capital just as it does to labor
Indicate whether the statement is true or false
The original (1958 ) Phillips curve differed from the Samuelson-Solow Phillips curve in that
A) the former was based on American data, while the latter was based on British data. B) the former measured price inflation rates, while the latter used wage inflation rates. C) the former was based on British data, while the latter was based on American data. D) the former measured nominal GDP, while the latter used Real GDP. E) a and b
In late 2007 and early 2008, the U.S. Federal Reserve pursued expansionary monetary policy. Which of the following will occur as a result of this monetary policy action?
A) The LM curve shifts down. B) The LM curve shifts up. C) The IS curve shifts rightward as the interest rate falls. D) The IS curve shifts leftward as the interest rate increases. E) none of the above