Advertising has no effect on the demand schedule for a good.
Answer the following statement true (T) or false (F)
False
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Starting from long-run equilibrium, a large decrease in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; lower; potential B. expansionary; higher; potential C. recessionary; lower; potential D. recessionary; lower; lower
Which statement is true?
A. Mass production can take place without mass consumption. B. Mass consumption can take place without mass production. C. Mass production can take place without mass consumption and mass consumption can take place without mass production. D. Mass production cannot take place without mass consumption, nor can mass consumption take place without mass production.
Differences in income are most directly related to which of the following economic question?
A) What goods and services are produced? B) In what quantities are various goods and services produced? C) How are goods and services produced? D) Who consumes the goods and services that are produced?
A speculator who believes strongly that interest rates will rise would be likely to
A) buy futures contracts on Treasury bills. B) sell futures contracts on Treasury bills. C) buy Treasury bonds in the spot market. D) increase now the amount of money which he lends.