An increase in M or an increase in V, other things equal, would definitely increase:
a. the price level
b. real GDP.
c. nominal GDP.
d. unemployment.
c
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In the above figure, a rent ceiling of $500 per month would
A) not affect the equilibrium quantity. B) create a shortage. C) raise the rent and cause a surplus. D) reduce the rent and create a surplus.
The threshold income level originally used to determine official poverty statistics was based on
A) an income three times the amount of money needed to purchase a nutritionally adequate diet. B) standards provided by the United Nations based on studies done in poor countries around the world. C) the highest income of the lowest one-fifth of families in the country. D) a per capita income of $1,000 in 1958 prices.
The years between 1896 and World War I were characterized by:
a. rapidly rising prices in the U.S. b. wild fluctuations in international exchange rates. c. the "heyday" of the gold standard in the U.S. and most industrialized countries. d. barriers that prevented the flow of goods and capital across international borders. e. All of the above.
The benefit estimation method employed by Carson and Mitchell in their analysis of the Clean Water Act was
a. the travel cost method (TCM) b. the contingent valuation method (CVM) c. the averting expenditure method (AEM) d. the hedonic price method (HPM)