Which of the following is the best example of a person NOT having clear property rights?
A) a city parks worker who inherits his uncle's town house
B) a medical student who lives on campus for his first year of studies
C) a retired college professor who builds a bungalow on her oceanfront property
D) a dairy farmer who pays off the mortgage on his farm
B
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Looking at the historical values for annual inflation in the United States as measured by the Consumer Price Index, it is clear that inflation was
A) higher on average during the 1990s than during the 1970s. B) higher on average during the 2000s than during the 1970s. C) never less than 0 percent at any time during the last 50 years. D) higher on average during the 1970s than during the 1980s. E) was never greater than 10 percent at any time during the last 50 years.
Suppose an increase in symphony tickets prices reduces the total revenue. This is evidence that demand is:
a. price elastic. b. price inelastic. c. unitary elastic. d. perfectly elastic.
A stock is a measure defined:
A. in real terms. B. at a point in time. C. per unit of time. D. in nominal terms.
In the AS/AD model, a contractionary monetary policy:
A. reduces investment but increases aggregate demand. B. increases both investment and aggregate demand. C. increases investment but reduces aggregate demand. D. reduces both investment and aggregate demand.