According to the Bureau of Economic Analysis (BEA), personal consumption expenditures grew at an annualized rate of 0.5% in August 2012, and this increase in spending was accompanied by income growth
If you were building a macroeconomic model that explores the effect of the growth in income on the increase in consumer spending, the growth in income would be an ________ variable and the increase in consumer spending would be an ________ variable. A) endogenous; endogenous
B) endogenous; exogenous
C) exogenous; exogenous
D) exogenous; endogenous
D
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The figure above shows that to make the price support work, the government buys ________ million tons of sugar beets
A) 10 B) 20 C) 30 D) 5 E) 15
The capture theory of regulation assumes that regulation benefits
A) producers. B) consumers. C) government. D) the general public. E) the regulators.
Which statement is true?
A. The United States is usually inside our production possibilities curve. B. The United States is usually outside our production possibilities curve. C. The United States is usually on our production possibilities curve. D. None of the statements are true.
Private benefits are those benefits that accrue:
A. without compensation to someone other than the person who caused them. B. indirectly to the decision maker of a market exchange. C. directly to the decision maker of a market exchange. D. to third parties without direct government intervention.