The new growth theory would be most likely to lend support for increased government support for
A. land acquisition.
B. natural resource development.
C. stricter environmental standards.
D. higher education.
Answer: D
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Tony notes that an electronics store is offering a flat $20 off all prices in the store. Tony reasons that if he wants to buy something with a price of $50, then it is a good offer, but if he wants to buy something with a price of $500, then it is not a good offer. This is an example of:
A. the proper application of the Cost-Benefit Principle. B. inconsistent reasoning; saving $20 is saving $20. C. inconsistent reasoning because prices are sunk costs. D. rational choice because saving 40% is better than saving 4%.
An increase in the value of a currency relative to other currencies is called a(n):
A. overvaluation. B. appreciation. C. evaluation. D. devaluation.
Which of the following would lead to a rightward movement along a stationary money demand curve?
a. A decrease in the interest rate b. A decrease in the price level c. An increase in the interest rate d. An increase in the price level e. An increase in real income
The excess supply created when the government imposes a price floor
a. shifts the equilibrium price upward to the price ceiling level b. is the difference between the quantity demanded at the old equilibrium price and quantity supplied at the price set by the price ceiling c. is the difference between the quantity demanded at the price set by the price ceiling and quantity supplied at the old equilibrium price d. is the difference between the quantity supplied and the quantity demanded at the price set by the price ceiling e. is the difference between the old equilibrium price and the price set by the price ceiling