If the dollar appreciates, how will aggregate demand in the United States be affected?
A) Aggregate demand will shift to the right as exports increase.
B) Aggregate demand will shift to the right as imports increase.
C) Aggregate demand will shift to the left as imports increase.
D) Aggregate demand will shift to the left as exports increase.
Answer: C
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If the marginal propensity to consume = 0.75, then:
a. the marginal propensity to save = 0.75. b. the marginal propensity to save = 1.33. c. the marginal propensity to save = 0.20. d. the marginal propensity to save = 0.25. e. since the marginal propensity to save and the marginal propensity to consume are unrelated, we cannot determine the marginal propensity to save from the information given.
The price of an hour of leisure time is:
A. the income that could have been earned in that hour. B. zero. C. the minimum wage rate. D. determined by the value of the activity the person engages in during that hour of leisure.
Scarcity implies that
A) the satisfaction of one person's want means another person's want can also be satisfied. B) the satisfaction of one person's want means another person will be more than satisfied. C) the satisfaction of one person's want means another person's want cannot be satisfied. D) no person's wants can be satisfied.
Which of the following best fits the definition of basic research?
A. Research into ultra-capacitors that store electrical energy for use in hybrid vehicles B. Research into mosquito physiology to find vulnerabilities to be exploited by future pesticides C. Research into a process that converts radioactive fly ash from coal-burning power plants into bricks D. A study of parallel universes