If more and more states legalize casino gambling in the future, what will likely happen to the market for casino gambling in the states where it is currently legal?
A. The demand curve will shift to the right.
B. The supply curve will shift to the left.
C. The supply curve will shift to the right.
D. The demand curve will shift to the left.
Answer: D
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Shoe leather costs are
A) the costs in time and effort incurred by people and firms who are trying to minimize their holdings of cash because of inflation. B) the costs of changing prices, such as printing and mailing catalogues. C) the costs of the redistribution of wealth between lenders and borrowers. D) the costs associated with the confusion of prices as signals.
According to the active policy approach, the elimination of a recessionary policy _____
a. can only be achieved by decreasing wages b. requires a public policy of wage and price controls c. should be accomplished by stimulating aggregate demand d. will increase unemployment e. will cause a recession
If the reserve requirement was 15% and a bank customer makes a deposit of $500, the initial result would be:
a. a $75 increase in required reserves and a $425 increase in excess reserves. b. a $425 increase in required reserves and a $75 increase in excess reserves. c. a $75 increase in required reserves and a $3,333 increase in excess reserves. d. a $3,333 increase in required reserves and a $425 increase in excess reserves.
If the price of inputs falls and the budget deficit rises due to an increase in government spending, then the:
a. Price index rises, and real GDP rises. b. Price index rises, and real GDP falls. c. Price index rises, and the change in real GDP is uncertain. d. Price index falls, and real GDP rises. e. Price index is uncertain, and real GDP rises.