Net worth increases in the same proportion as liabilities increase
a. True
b. False
Indicate whether the statement is true or false
False
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This table shows the different combinations of goods that Jack can consume, given that his income to spend on these two items is $10. Considering the information in the table shown, if Jack's income to spend on these two items were to increase to $16:
A. he could afford to buy 16 popsicles and 8 ice cream cones. B. he could afford to buy either 16 popsicles or 8 ice cream cones. C. he could afford to buy 8 ice cream cones and 4 popsicles. D. None of these is true.
If both real GDP and nominal GDP of a country increased at the same rate in a particular year, which of the following is most likely to have taken place?
a. Output increased and the price level increased b. Output increased and the price level decreased c. Output decreased and the price level increased d. Output decreased and the price level decreased e. Output increased and the price level remained constant
The consumer price index is used to
a. monitor changes in the level of wholesale prices in the economy. b. monitor changes in the cost of living over time. c. monitor changes in the level of real GDP over time. d. monitor changes in the stock market.
Suppose that a tariff is imposed on imported cheese. This will have the effect of __________ the price of cheese, __________ consumers' surplus, and __________ producers' surplus
A) increasing; increasing; increasing B) decreasing; decreasing; decreasing C) increasing; increasing; decreasing D) increasing; decreasing; increasing E) decreasing; decreasing; increasing