As the Consumer Price Index increases, the value of money
a. falls, so people hold more money to buy the goods and services they want.
b. falls, so people hold less money to buy the goods and services they want.
c. rises, so people hold more money to buy the goods and services they want.
d. rises, so people hold less money to buy the goods and services they want.
a
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To be considered unemployed, a worker must have had
A) no employment during the week before the survey and be actively looking for a job. B) part-time employment while actively looking for a full-time job. C) no employment during the week before the survey and be actively looking for a job while a student. D) no employment during the day before the survey and be actively looking for a job. E) Both answers A and B are correct.
The law of demand states that as the price
A. increases, total quantity demanded will increase. B. decreases, total quantity demanded will decrease. C. increases, total quantity demanded will decrease. D. increases, total quantity demanded will stay the same.
Assuming that we can properly measure ability to pay, how do we use the principle of vertical equity to determine how much someone with greater ability to pay should pay in taxes?
a. By integrating it with the principle of horizontal equity. b. Through reference to the benefit principle. c. By looking at elasticities of demand for various income quintiles for the good in question. d. We cannot use the principle of vertical equity to answer this question.
The consumption function is associated with
A. John Maynard Keynes. B. Karl Marx. C. Milton Friedman. D. Adam Smith.