To track the interest on the public debt over time and compare it to the productive capacity of the economy, it is best:
A. measured relative to the GDP.
B. measured relative to the Consumer Price Index.
C. compared to consumer spending.
D. examined relative to budget deficits.
Answer: A
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When disposable income increases,
A) the consumption function shifts downward. B) there is a movement downward along the consumption function, but the consumption function does not shift. C) there is no movement along the consumption function, and the consumption function does not shift. D) the consumption function shifts upward. E) there is a movement upward along the consumption function, but the consumption function does not shift.
An increase in the quantity of money supplied shifts the money supply curve to the ________, and the equilibrium interest rate ________, everything else held constant
A) right; falls B) right; rises C) left; falls D) left; rises
In a monopolistically competitive market, entry into the industry
A) is relatively easy. B) is blocked. C) is difficult due to extensive government regulation. D) is as difficult as entry into a monopoly.
Which of the following statements provides the most accurate description of the period between the Civil War and WWI?
a. Real per capita wages were relatively flat. b. The share of immigrants was increasingly Protestant. c. Businesses became increasingly regulated. d. The average hours of work for employees in the industrial sector increased slightly.