The value of a dollar
A. various directly with the price level.
B. is determined only by the U.S. government.
C. varies directly with the purchasing power of other major currencies.
D. varies inversely with the price level.
Answer: D
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The above table shows answers given by people interviewed in a government survey of households. Which individuals are considered unemployed using the official U-3 unemployment rate?
A) A, B, and C B) B, C, and D C) A, C, and D D) C and D
For all goods other than those that are addictive, and assuming that the quantity consumed is not so large that the last units consumed generate negative marginal utilities, we can say that, for the consumer, as more of the good is consumed, its marginal utility _____ while its total utility _____
a. increases; decreases b. decreases; increases c. increases; increases d. decreases; decreases e. no general rule can be made here
Which of the following events will increase GDP?
a. losing $500 playing blackjack in your dorm b. selling an antique writing desk for $500 cash c. a burglar stealing your CD player d. the police department hiring an extra detective to track down the burglar who stole your CD player
The Keynesian short-run aggregate supply curve
A. is upward sloping. B. is horizontal. C. is vertical. D. is downward sloping.