Personal consumption expenditures include all of the following EXCEPT spending on
A) consumer durable goods.
B) consumer nondurable goods.
C) consumer services.
D) new housing.
D
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If Jennifer withdraws $750 from her checking account and holds it as currency, then M1 will ________ and M2 will ________
A) decrease; not change B) not change; increase C) decrease; decrease D) not change; not change
Government policy to reduce unemployment and increase national output can be illustrated by an
a. outward shift of the aggregate demand curve caused by an increase in government spending. b. outward shift of the aggregate supply curve caused by a reduction in government spending. c. inward shift of the aggregate demand curve caused by an increase in government spending. d. inward shift of the aggregate supply curve caused by a reduction in government spending.
Refer to Figure 6.4. If the price of computers is $1,000, then consumer surplus is given by the area represented by:
A. c + d.
B. b.
C. b + c.
D. a + b + e.
When an economy is operating efficiently, the production of more of one good will result in the production of less of some other good because
What will be an ideal response?