Which of the following shows the combination of two products that have the same utility or satisfaction?
A. Production possibility curve
B. Insignificance curve
C. Demand curve
D. Indifference curve
Answer: D
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If workers believe that government policymakers will increase aggregate demand to avoid a politically unpopular increase in unemployment when workers demand higher wages, then workers will not fear higher unemployment and their wage demands will
result in A) demand-pull inflation. B) hyperinflation. C) deflation. D) cost-push inflation.
There are few truly global brands
Indicate whether the statement is true or false
In 1997, the Hong Kong government slaughtered 1.3 million chickens, ducks, and geese in hopes of protecting humans from contracting the virus carried by these fowls. The slaughter's effect on Hong Kong's economy, although minor, still shifted Hong Kong's
a. AS curve to the right, which would raise the price level and lower real GDP b. AS curve to the right, which would lower the price level and raise real GDP c. AS curve to the left, which would raise the price level and lower real GDP d. AD curve to the left, which would lower the price level and real GDP e. AD curve to the right, which would raise the price level and real GDP
Crowding out suggests that
A) high taxes reduce both consumption and saving. B) increases in consumption are always at the expense of saving. C) increases in government spending may raise the interest rate, thereby reducing investment. D) increases in government spending will close a recessionary gap.