Aggregate demand will shift outward when there is/are
a. a decrease in government spending
b. a decrease in incomes abroad
c. a tax increase
d. consumers deciding to buy more goods and services, even if prices remain unchanged
e. the expectation that future income will fall
D
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People who want to work but have stopped looking for work because they could not find jobs after actively searching are called
A) empowered. B) employed. C) discouraged workers. D) unemployed.
A transfer payment is
a. a payment for moving expenses a worker receives when he or she is transferred by an employer to a new location. b. a payment that is automatically transferred from your bank account to pay a bill or some other obligation. c. a form of government spending that is not made in exchange for a currently produced good or service. d. the benefit that a person receives from an expenditure by government minus the taxes that were collected by government to fund that expenditure.
When the price of a product falls, the income effect induces the consumer to purchase more of it while the substitution effect prompts her to buy less.
a. true b. false
What were greenbacks?
a. paper currency issued by the Confederacy during the Civil War b. paper currency issued by the Union during the Civil War c. fiat money used by the Confederacy during the Civil War d. commodity money used by the Union during the Civil War