Figure 5-6
In Figure 5-6, a shift in the budget line from AC to AB indicates
a.
the price of wine coolers has risen.
b.
income has increased.
c.
the price of beer has fallen.
d.
the price of wine coolers has fallen.
e.
All of the above are correct.
a
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If the demand for Home exports decreased abroad, the Home fall in output would be greatest
A) if the decrease was temporary and the exchange rate was fixed. B) if the decrease was temporary and the exchange rate was floating. C) if the decrease was permanent and the exchange rate was fixed. D) if the decrease was permanent and the exchange rate was floating. E) if the decrease was permanent and the exchange rate was high.
Which one of the following statements is true?
a. Resources flow from the government to households. b. Resources flow from firms to households. c. Taxes flow from firms to the government. d. Resource payments flow from firms to households e. Imports flow from firms to foreign economies.
Aggregation involves adding together different products and services
a. True b. False Indicate whether the statement is true or false
Suppose the following information describes the economy:GDP2,000Consumption1,500Government spending300Net taxes400 Private saving equals ________; public saving equals ________; national saving equals ________.
A. 100; 100; 200 B. 200; 100; 300 C. 100; 200; 100 D. 200; 100; 500