Economists use ________ to forecast economic activity and to evaluate policy options
A) macroeconometric models
B) educated guesses
C) cost-benefit analysis
D) constrained discretion
A
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Refer to Figure 21-5. "Crowding out" of firm investment as a result of a budget deficit is illustrated by the movement from ________ in the graph above
A) A to B B) C to A C) B to A D) B to C
The figure above shows a graph of the market for pizzas in a large town. What characterizes the equilibrium in this market?
A) There is excess supply at the equilibrium price of $7. B) The government has selected the appropriate price for pizzas. C) The quantity supplied equals the quantity demanded. D) Supply equals demand.
Which of the following best represents the effects of a decrease in the price of tomato juice, other things being equal?
a. An upward movement along the demand curve for tomato juice. b. A downward movement along the demand curve for tomato juice. c. A rightward shift in the demand curve for tomato juice. d. A leftward shift in the demand curve for tomato juice.
Orange juice and grapefruit juice are likely to be
A. inferior goods. B. substitutes for one another. C. complementary to one another. D. all of the above.