An increase in the demand for HDTV sets leads to an increase in demand for LCD and LED TV screens. This situation arises because:
A. LCD and LED screens minimize the costs of production
B. The supply of LCD and LED screens has decreased
C. The demand for LCD and LED screens is a derived demand
D. Of foreign production of LCD and LED screens
C. The demand for LCD and LED screens is a derived demand
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If the government announces a big tax cut, which of the following combinations of events would be most likely to occur?
a. An upward shift of the aggregate expenditure line, a rightward shift of the money demand curve, and a rightward shift of the aggregate demand curve b. A downward shift of the aggregate expenditure line, a leftward shift of the money demand curve, and a leftward shift of the aggregate demand curve c. An upward shift of the aggregate expenditure line, a leftward shift of the money demand curve, and a rightward shift of the aggregate demand curve d. A downward shift of the aggregate expenditure line, a rightward shift of the money demand curve, and a rightward shift of the aggregate demand curve e. An upward shift of the aggregate expenditure line, a rightward shift of the money demand curve, and a leftward shift of the aggregate demand curve.
The bowed-out-from-the-origin shape of the production possibilities curve occurs because resources are
a. equally well-suited to production of both goods b. not being used efficiently c. not always of equal quality and some are better suited to the production of one type of good than others d. increasing as more of one good is produced e. of an increasingly inferior quality
In Figure 30.2, a minimum wage of $20 will result in a
A. Shortage of 160 workers. B. Shortage of 180 hours. C. Surplus of 20 workers. D. Surplus of 32 workers.
The economic impact of ________ during recessionary periods is to decrease taxes.
A. negative demand shocks B. automatic stabilizers C. increasing the reserve rate D. recognition lags